The number of improving housing markets across the country rose to 99 in September, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI), released today. This is up from 80 metros that were listed as improving in August and includes markets in 33 states, as well as Washington, D.C.
The number of improving housing markets across the country rose to 99 in September, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI), released today. This is up from 80 metros that were listed as improving in August and includes markets in 33 states, as well as Washington, D.C.
The index identifies metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months. Some of the markets added to the list in September were Tucson, Ariz.; Jacksonville, Fla.; Springfield, Ill.; Greenville, N.C.; and Bend, Ore.
"The number of improving housing markets grew by 19 in September as 68 metros retained their spots, 31 new metros were added and just 12 dropped off the list," noted Barry Rutenberg, chairman of the NAHB and a home builder from Gainesville, Fla. "This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next."
"Combined with recent positive reports on builder confidence, housing starts and new-home sales, the September IMI adds to the growing consensus that housing is finally moving in the right direction, which in turn is spurring more potential buyers to get off the fence," said Kurt Pfotenhauer, vice chairman at First American Title Insurance Company.
The full list of markets included in this month's list can be viewed here.
