NAHB Says List of Improving Housing Markets Expands to 99 in SeptemberSeptember 10th, 2012 | Category: Industry News
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 representatives from 33 states as well as the District of Columbia.
“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, chairman of the NAHB 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.”
“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,” adds NAHB chief economist David Crowe. “That said, overly tight lending conditions for builders and buyers continue to slow this process considerably.”
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 are available through the NAHB website.