The presence of an inverted Treasury yield curve over the past month, coupled with anticipated Federal Reserve tightening, has left a great deal of volatility in the market. However, while these measures should indicate a slowdown, the housing market is still very strong.

"You'd think with higher oil prices, higher mortgage rates, a faltering stock market, that housing activity would slow down a bit, but it's been remarkably resilient," said Michael Hoeh, head portfolio manager at Dreyfus Corp.

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