The NAHB's Improving Housing Markets list in September reached the index's highest level since its inception two years ago. For the month, the list gained 44 markets over August to reach a total of 291 metro areas in the United States. Forty-nine news markets were added, while five dropped off the list.
The NAHB's Improving Housing Markets list in September reached the index's highest level since its inception two years ago. For the month, the list gained 44 markets over August to reach a total of 291 metro areas in the United States. Forty-nine news markets were added, while five dropped off the list.
"Just over 80 percent of the 361 metros tracked by our index are showing consistent growth in three key measures of housing market strength-prices, permits and employment," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C., in a statement. "While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographic areas."
"The dramatic increase in markets qualifying for the IMI in September was partly due to a recent improvement in the way that Freddie Mac measures home prices, which resulted in stronger gains than previously reported," said NAHB Chief Economist David Crowe in a statement. "Even so, the broadened list of metros on the IMI continues to demonstrate the slow but steady gains that individual housing markets are making to bolster the national outlook."
The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. A complete list of all 291 metros currently on the IMI and more information is available at www.nahb.org/imi.
