The Dow Jones Industrial Average
|Dow Jones Industrial Average||-45.57 [-0.35%]||13,124.62|
The news this morning was not exactly bad, but not exactly good. January existing-home sales were bumped to a seasonally adjusted 4.63 million, up from a report of 4.57 million last month. February home sales were down month over month and slightly below analyst forecasts; however, existing-home sales were still at their highest levels of the past five years.
While sales were slightly down, other data out this week points to an improving picture in the housing market. Yesterday in a joint release, the Census Bureau and the Department of Housing and Urban Development reported that building permits rose 5% in February. Investors will get more housing news later this week, with the Federal Housing Finance Agency's home-price index coming out tomorrow at 10 a.m. and data on new-home sales on Friday.
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Dan Dzombak holds no position in any company mentioned. Motley Fool newsletter services have recommended buying shares of Home Depot. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.