Housing stocks provide opportunities- portfolio manager

STORY: Lee pointed to Willams-Sonoma as a company he likes in this area. "They don't just do furnishings, but they do very targeted... Williams-Sonoma kids, you know, it's kind of the next generation."

Wednesday a report showed contracts to buy U.S. previously owned homes increased for a third straight month in February, raising cautious optimism that the housing market slump could be bottoming out.