Modest Increase In July’s Improving Markets Index

Posted by Orb Staff on July 09, 2012 No Comments
Categories : Residential Mortgage

11937_cre_street Modest Increase In July's Improving Markets Index The list of U.S. housing markets showing measurable and sustained improvement rose by four to include 84 metros in July, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI). This number includes representatives from 32 states plus the District of Columbia.

This month's IMI includes 73 metros that held their positions on the list from June, as well as 11 newly added markets. Notable new entries include such geographically diverse places as Prescott, Ariz.; Springfield, Mass.; St. Cloud, Minn.; and Houston.

‘The geographic diversity and growing number of metros on the latest IMI help spotlight the improvements we have begun to see in terms of home prices and job market conditions across certain parts of this country, which, in turn, are spurring more demand for new homes,’ says NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. ‘That said, our members continue to assert the need for more reasonable credit standards and more accurate appraisal methods to perpetuate this positive momentum.’Â Â Â Â

A complete list of all 84 metropolitan areas currently on the IMI, as well as separate breakouts of metros newly added to or dropped from the list in July, is available online.

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