Saturday
September 20, 2014

List of Improving Housing Markets Gets Longer

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List of Improving Housing Markets Gets Longer

For the seventh-consecutive month, a list of improving housing markets has expanded. It now includes 274 metros across the U.S., according to the National Association of Home Builders/First American Improving Markets Index.

More than 75 percent of the 361 metros covered by the index are now listed as improving, and metros from all 50 states and the District of Columbia are represented on the list. The index identifies areas that have shown improvements in housing permits, employment, and home prices for at least six consecutive months. 

Additions to the list for this month included Birmingham, Ala.; Santa Barbara, Calif.; Colorado Springs, Colo.; and Bloomington, Ind. 

"This is the second-consecutive month in which every state is represented by at least one metro on the improving list," says NAHB Chairman Rick Judson. "The expanding housing recovery is energizing communities nationwide by generating jobs and local tax revenues — and it could be an even more potent force for economic growth if credit for building and buying homes was more readily available."

While the housing market is on "considerably more solid footing" than this time last year, NAHB Chief Economist David Crowe says plenty of challenges still remain that are holding back the pace of the recovery, notably credit availability, the rising cost of building materials, and emerging lot shortages. 

To view a complete list of all 274 metros on the Improving Market Index, visit www.nahb.org/imi.

Source: National Association of Home Builders

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