Zacks' 7 Best Stocks for June, 2013
FREE Report for Zacks.com
Visitors Only

They're hand-picked from the list of Zacks Rank #1 Strong Buys. Our experts predict that their prices will jump the soonest.

Today, you can see them free.

Close This Panel X

Are you a new Zacks Member or a visitor to Zacks.com?

Recent Quotes

No Recent Quote currently available

My Portfolio

My Portfolio Tracker

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Stocks on the Move 05/23/2013

Company Name Symbol %Change
WESTELL TECH WSTL
6.15%
A M R CP AAMRQ
4.51%
MAXWELL TECH MXWL
3.64%
ALLIANCE FIB AFOP
3.16%
SYNAPTICS IN SYNA
3.06%
John Blank

Housing Permits Show a Rise

by John Blank

February 20, 2013 | Comments : 2 Recommended this article: (0)

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

We found out this morning the housing market is continuing to look stronger. Housing starts are up +24% from this time last year, but are still well below a bubble peak near 2.3 million units in 2006.

First, the leading housing indicator, which is building permits, was up:

The government reported Wed. Feb. 20 that building permits, a sign of future demand, rose +1.8% in January to a rate of 925,000 -- the highest rate since June 2008. Permits for single-family homes rose +1.9% to a rate of 584,000. Permits for structures with two or more units (aka apartments) increased +1.5% to a rate of 341,000.

Key Facts

  • 56% of single-family permits are started in the same month, while
  • 62% of apartments are started within that month or the one following.
  • 71% of single-family houses are completed in six months.
  • Only 20% of apartments are completed in six months.

Next, coincident indicators, single family and apartment starts, were mixed:

Starts for single-family homes ticked up +0.8% to a rate of 613,000, the highest rate since July 2008.

But starts for structures with two or more units (aka apartments) fell -24% in January to a rate of 277,000.

Finally, the lagging indicator, construction, was down:

Led lower by apartments, construction on new U.S. homes fell -8.5% in January to 890,000 (SAAR) units, according to data released Wednesday by the U.S. Department of Commerce. Forecasters thought January's starts would decline to 914,000 units.

This was a miss.

On the brighter side, a preliminary December construction estimate of 954,000 units, on lower apartment construction, was revised up to 973,000.

More apartments were completed in December than thought, and this pulled down the January construction numbers.

What is your take on these numbers? Is this going to help or hurt the housing stocks and the overall market?

Email Print Share Rate Pos Rate Neg

Zacks' 7 Best Stocks for June, 2013
FREE Report for Zacks.com Visitors Only

They're hand-picked from the list of Zacks Rank #1 Strong Buys. Our experts predict that their prices will jump the soonest. Today, you can see them free.

Close This Panel X
Read/Post Comments (2) | Recommended this article (0)

Please login to Zacks.com or register to post a comment.

Zacks Research is Reported On:

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.