Improving Housing Markets List Continues to Grow

by devteam June 7th, 2013 | Share

For the fifth straight month more thanrn70 percent of U.S. Metropolitan areas are listed as “improving”</bby the National Association of Home Builders/First American ImprovingrnMarkets Index. The Index for June posts a total of 263 metro areasrnthat have had six straight months of improvement in their respectivernperformances on measures of housing, employment, and home prices.</p

Twenty-nine new markets joined the listrnover the last month while 24 others were dropped. There are now 49rnstates and the District of Columbia represented on the list. Addedrnwere geographically diverse areas such as Sioux City, Topeka, BatonrnRouge, and Salinas. </p

“As market conditions improvernacross most of the country, some metros have moved onto the IMI listrnwhile marginal seasonal fluctuations have nudged others off of it,”rnnoted NAHB Chief Economist David Crowe. “This is to be expectedrnas the recovery expands. Meanwhile, it’s worth noting that the numberrnof improving markets is now more than three times what it was in Junern2012.”</p

To be included on the list a marketrnmust show six consecutive months of improvement from its recent lowrnpoint in each of the three indicators as measured by data onrnemployment growth from the Bureau of Labor Statistics, housingrnpermits from the U.S. Census Bureau, and home prices from FreddiernMac.

“This is the fifth consecutive month in which thernIMI has designated more than 70 percent of U.S. metros as improving,”rnobserved NAHB Chairman Rick Judson. “While that’s a good signrnthat the housing recovery is on solid footing, we know that variousrnchallenges are slowing its progress – including continuing issuesrnwith credit availability for builders and buyers, as well asrnappraisals that aren’t keeping up with the rising cost ofrnconstruction.”

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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