NAHB Launches Improving Markets Index

The National Association of Home Builders (NAHB) has launched its Improving Markets Index (IMI), a new monthly economic index showing which housing markets are improving in three key economic indicators, including housing permits, employment and housing prices.

The first IMI was released Wednesday. The metropolitan areas included in the first IMI, showing they are improving, are:

• Alexandria, La.
• Anchorage, Alaska
• Bangor, Maine
• Bismarck, N.D.
• Casper, Wyo.
• Fairbanks, Alaska
• Fayetteville, N.C.
• Houma, La.
• Midland, Texas
• New Orleans, La.
• Pittsburgh, Pa.
• Waco, Texas

"Housing conditions are local, and do not always reflect the national picture. We created this new index to shine a light on those housing markets across the country that have stabilized and have begun to show signs of recovery," said Bob Nielsen, NAHB chairman and a home builder from Reno, Nev.

"Last year at this time, there was not a single market that showed improvement using these criteria, and now we can point to 12 examples of growth," said NAHB Chief Economist David Crowe.

Areas included in the IMI must show improved economic indicators over six months. Future IMI release dates include Oct. 6, Nov. 7 and Dec. 6.