125 More Markets Improve in NovemberNovember 6th, 2012 | Category: Industry News
The number of U.S. housing markets showing consistent improvement in three key measures of strength expanded by 22 in November to a total of 125, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. This marks a third consecutive monthly gain for the index, which now includes representatives from across 38 states as well as 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 November include such geographically diverse locations as San Diego; Gainesville, Fla.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C.
“The solid increase in the number of improving housing markets this month illustrates the degree to which the housing recovery has gained momentum since we initiated the IMI last year,” says NAHB chief economist David Crowe. “Compared to the 30 markets that made the list as of November 2011, we now have 125, which is about one-third of all the markets surveyed for this index.”
The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health.