GOLDMAN: The Housing Recovery Is Back On Track

This is important.

For a little while there this year it looked like housing might be sputtering a bit. According to Goldman, that’s over:

Recent data on housing sector activity have on balance been firmer, following the soft patch earlier this year. We see the dataflow as consistent with growing momentum in the housing sector, in line with our view that higher interest rates will not prevent a solid increase in housing activity in 2014. Our housing current activity indicator―a summary measure of eight housing activity series―has risen substantially from its August low. Forward-looking and coincident data such as the NAHB Housing Market Index, housing starts, and new home sales have led the way.

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