Markets in 117 of 340 metro areas across the United States returned to or exceeded their last normal levels of economic and housing activity in the fourth quarter of 2015, according to the National Associate of Home Builders Leading Markets Index, a year-over-year gain of 52 markets.
The LMI’s nationwide score was at .94 in the fourth quarter of 2015, which means the nationwide average is at 94 percent of normal economic and housing activity. Ninety percent of housing markets nationwide showed an improvement year-over-year.
The number of markets in 2015 at or above 90 percent of activity reached 217. “This demonstrates that the breadth of the housing recover continues to grow,” said Kurt Pfotenhauer, vice chairman of LMI report co-sponsor First American Tile Insurance Company, in a statement.
The list of major metros on the LMI is topped by Baton Rouge, La., with a score of 1.52, or 52 percent better than its last normal market level.
In smaller metros, Midland and Odessa, Texas, both have LMI scores of two, which makes their markets double the strength of their last normal market level.
