I would expect the Housing Sector to continue to be a bright spot in the US Economy over the next 6-12 months. Builders Sentiment is at a 5 year high and Home Prices are starting to stabilize.
Current levels of growth in Housing are normally associated with above trend growth in the US Economy. But the current level of Housing Starts is so low that while the contribution will be positive, it won't be anywhere near as powerful as usual due to the still large inventories of extra homes built during the Housing Boom.
Click on the Monthly Housing Chart Package for more information.