MICHELLE MEYER: Here Are The 4 Hottest Topics In The US Housing Market

The rapid decline in housing inventory and the upward momentum in prices have recently forced economists like Bank of America's Michelle Meyer to raise their projections.

But the housing market is still far from normal, and Meyer fully acknowledges that.

For a true recovery we need to see a "return of primary home buyers and exit of institutional investors," wrote Meyer in a new note to clients.

In that note, she points out 4 "hot topics" in housing that will continue to play an important part in the conversation on the housing market.