Number of Improving Housing Markets Nearly Doubles

The number of housing markets showing measurable improvement almost doubled in January with the addition of 40 new metros to the National Association of Home Builders/First American Improving Markets Index (IMI), announced on June 9. The IMI now shows 76 improving markets, up from 41 in December, with 31 states and the District of Columbia represented by at least one entry. 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. “The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing, and is even more relevant when you consider the expanding geographic distribution of the list – which now includes 31 states and the District of Columbia,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “This trend could be even stronger if not for the numerous impediments that continue to slow a housing and economic recovery, including overly restrictive lending policies and the growing inventory of distressed properties in certain markets.” For a listing of improving markets, including the latest additions, visit www.nahb.org

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