NAHB Improving Markets Index Expands To 99 Metros

Posted by Orb Staff on September 11, 2012 No Comments
Categories : Residential Mortgage

12365_community NAHB Improving Markets Index Expands To 99 Metros 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). This is up from 80 metros that were listed as improving in August and includes markets in 33 states plus the District of Columbia.

The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Markets added to the list in September include 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,’ says Barry Rutenberg, NAHB chairman 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.’

A complete list of all 99 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in September, is available online.

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