The number of improving housing markets increased by two in April, according to the National Association of Home Builders/First American Improving Markets Index (IMI).
The number of improving housing markets increased by two in April, according to the National Association of Home Builders/First American Improving Markets Index (IMI).
April saw 13 metros added to the list and 11 slip off; 88 metros retained their places on the list, which identifies areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Just some of the list's new additions are Rome, Ga.; Coeur d'Alene, Idaho; Greenville, N.C.; Brownsville, Texas; St. George, Utah; and Huntington, W.Va.
"While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction," said NAHB Chairman Barry Rutenberg. "A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations."
A complete list of all 101 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in April, is available at www.nahb.org/imi.