It is, however, potentially a key investor sentiment driver, looking forward. Housing got a lot of negative attention when it was weak, and many feared the U.S. economy couldn't improve meaningfully after 2008 without a strong housing rebound. But now that it's in a legitimate and seemingly sustained rebound, it's not getting an equal amount of positive attention. Instead, many have characterized the rebound as illusory, describing markets with words like "frothy," rather than the real product of rising demand and tight supply.
Some folks have turned more optimistic in recent months, but sentiment broadly doesn't reflect the current strength. As sentiment catches up with reality, it should help carry stocks higher. This article was written by an independent contributor, separate from TheStreet's regular news coverage.