The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) says the number of improving housing markets increased from 81 in August to 99 in Sept., further indication that the housing market is recovering. Based on employment growth,
house price appreciation, and single-family housing permit growth for six consecutive months, the survey shows 68 metropolitan areas retained their ranking, 31 new metros were added, and only 12 dropped from the list. While noting tight lending conditions continue to slow more rapid growth, NAHB Chief Economist David Crowe says, “More metros across the country are experiencing a sustained uptick in house prices, employment and new building activity as rising consumer confidence in local market conditions pushes more people to consider a new-home purchase.” As MHProNews has learned, the list includes cities in 33 states and the District of Columbia.
(Photo credit: San Antonio Express-News/Jose Mojica)