Dabbling in real estate? Cramer thinks that there's no better proxy than this stock.
"It's the world's largest real estate broker, with a chain of 700 company owned brokerage offices and more than 13,500 franchises," Cramer said.
Although you may not recognize the name, Realogy operates a number of different well-known brands including Century 21, Coldwell Banker, Better Homes and Gardens Real Estate, Corcoran, Sotheby's and more.
"Realogy is so big that last year it was involved in 26% of all US existing home sales that involved a broker," Cramer explained. "I see it as a pure play on buying and selling homes. If you want a proxy for housing transactions, Realogy is it. "
Looking at the price action, shares declined almost 20% in 3 months, as investors worried that the increase in mortgage rates would crimp the volume of existing home sales.
"As a result Realogy was crushed, peaking around $55 in mid-May," Cramer said.
However, the latest economic data suggests the stock may have been oversold.