NEW YORK ( TheStreet) -- Since my last post covering the housing market we have received additional data that show continued gradual improvement in homebuilding: New Home Sales last Thursday and the S&P /Case-Shiller Home Price indices on Tuesday.
Today I profile the 19 stocks in the PHLX Housing Market Index, or HGX.
Despite these data I continue to be cautious about the sustainability of the powerful rally in the homebuilder stocks.
On Tuesday we also learned the Conference Board's reading on Consumer Confidence fell to 60.6 in August versus 65.9 in July. This measure correlates with the housing market and thus provides a warning for the sustainability of the rally for the home builder stocks.
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