Economic and housing activity in the second quarter of 2016 was reported at 97 percent of normal, according to the National Association of Home Builders Leading Markets Index, which examines the activity in 340 metro areas.
Markets in 146 of 340 metro areas returned to or exceeded their last normal levels of activity in the second quarter, a year-over-year gain of 66 markets.
"This gradual uptick is in line with NAHB's forecast for a slow but steady recovery of the housing market," said NAHB Chairman Ed Brady in a statement. "With a strengthening economy, solid job growth and low mortgage interest rates, the market should continue on an upward trajectory throughout the rest of the year."
Baton Rouge, La., topped the list of major metros in the LMI with a score of 1.61, or 61 percent better than its last normal market level.
