List of Improving Housing Markets Over 100

The number of metropolitan areas on thernlist of improving housing markets increased to 103 in September, an increase ofrnfour from the August tally and the largest number in the one year history ofrnthe list.  A total of 33 states and thernDistrict of Columbia are represented on the list published by the NationalrnAssociation of Homebuilders (NAHB) and First American Title Insurance Company.  </p

To be included on the list, arnmetropolitan area must have shown six consecutive months of improvement fromrnits recession trough in each of three categories, housing permits as referencedrnby the U.S. Census Department, employment according to the Bureau of LaborrnStatistics, and home prices from Freddie Mac data.   </p

Only seven MSAs fell off the list inrnSeptember compared to nine in July and 12 in August.  Eleven new housing markets includingrngeographically diverse locations such as Santa Cruz, California; Pocatello,rnIdaho; and Savannah, Georgia, and 92 MSA maintained their positions on the list.</p

Barry Rutenberg, chairman of NAHB notedrnthe stability of the September list, saying, “This is an encouraging sign thatrnthe housing recovery is proceeding at a steady pace as firming prices andrnemployment help spur new building activity, which in turn generates new jobsrnand more home sales.”</p

“The fact that most markets are maintaining their spots on the improvingrnlist from month to month is an important indication that the recovery trend isrnsolidifying,” agreed NAHB Chief Economist David Crowe. “At the same time,rnoverly tight credit conditions are certainly constraining consumers’ ability tornpurchase homes as well as builders’ ability to construct them.”</p

“The expansion of the improving markets list to more than 100 metros marksrnan important milestone on the road to recovery,” noted Kurt Pfotenhauer, vicernchairman at First American Title. “For potential buyers across the country, itrnis becoming increasingly apparent that now is a good time to explore a new-homernpurchase.”

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