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[video] Jim Cramer Quick Take: Watch Lennar

NEW YORK (TheStreet) -- Lennar (LEN) will report earnings on Tuesday and TheStreet's Jim Cramer told Brittany Umar he'll be watching because it could be a good indicator for the rest of housing.

After mortgage rates violently moved higher earlier in 2013, a lot of deals started to fall through, according people he's talked to in real estate, Cramer said.

When listening to Lennar's conference call tomorrow, he wants to hear the results for the past three months as well as the cancellation rates. Cramer said that although some homebuilders have blamed lack of inventory as a reason for a drop in home sales, the lack of traffic from prospective buyers is certainly a contributing factor.

According to Cramer, many buyers likely feel they missed their great chance to buy when mortgage interest rates were lower, or they did not lock in their rate and are now holding back.

Thus, Lennar earnings will shed some light on how the housing market is doing, he said. Cramer added the Federal Reserve's decision to hold off on tapering its bond purchases should help lower rates and could wind up saving the housing market.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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