With the third quarter of 2013 likely to be remembered by higher home prices, elevated interest rates and turmoil in Washington, investors have good reason to be concerned about acquiring shares of publicly traded homebuilders. The National Association of Home Builders/Wells Fargo Housing Market Index released on October 16th confirmed that fear when it showed a lower level of confidence in the industry following a downwardly revised reading in the prior month. To add further uncertainty to the equation, with the government shut down for a few weeks, the closely tracked Housing Starts report was not released.
The data is beginning to show what appears to be a brief period of "consolidation" or "cooling down" in the housing market. While...
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