"The U.S. housing recovery is for real," said Sal Guatieri, an economist at BMO Capital Markets, in a note to clients. "Great affordability, pent-up demand and strong investor interest in rental units are driving the market."

"The U.S. housing recovery is for real," said Sal Guatieri, an economist at BMO Capital Markets, in a note to clients. "Great affordability, pent-up demand and strong investor interest in rental units are driving the market."

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