This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Relax, Housing Is OK After All: Opinion

NEW YORK (TheStreet) -- Stop worrying about housing. The real estate recovery is doing fine.

That's the message from two big pieces of data Wednesday -- and also new disclosures by some of the industry's biggest players.

Plus, the fundamentals of housing's recovery haven't changed through this winter of cold winter that has chilled the economy for a spell. They're the same mix of good and needs-to-get-better as they were two months ago. That's decent news for investors and home owners, and better news for job seekers..

The newest macro data come from the Census Bureau, which says January new home sales rose 9.6% from January, hitting a seasonally adjusted annual rate of 468,000 single family homes and beating forecasts by more than 50,000 houses. At an average price of $322,800, that gap represents about $16 billion worth of unforeseen sales this year.

Earlier Wednesday, the Mortgage Bankers Association of America said applications for loans to buy houses dipped 4% on a seasonally adjusted basis. The association said applications were actually little changed -- it's just that the spring pickup in loan demand hasn't yet shown up this year.

In other words, the data say things are not too hot and not too cold. That's what the nation's big real estate companies are saying as well.

Realogy (RLGY), owner of Coldwell Banker and America's biggest real estate broker, said Tuesday that buyer traffic at its Web sites is up 10% from last year, in what CEO Richard Smith said is a sign that consumers are not backing off home shopping for this spring. He also pointed to signs of easier credit, which let more consumers buy, with Wells Fargo lowering its minimum FICO score for mortgage borrowers to 600 from 640, and that the percentage of home owners whose mortgage balance is more than their homes' value has fallen by half.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,890.59 -24.48 -0.14%
S&P 500 1,962.07 -2.61 -0.13%
NASDAQ 4,400.5090 +4.3050 0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs