List of Improving Housing Markets Expands
The list of improving housing markets grew to 259 in February with all 50 states represented, according to the National Association of Home Builders/First American Improving Markets Index.
The index identifies metro areas that have shown improvement in housing permits, employment, and home prices for at least six consecutive months. More than 70 percent of the 361 metros covered by the index are now on the list, according to David Crowe, NAHB’s chief economist.
Twenty metros were added to the latest list, including places like Rome, Ga.; Fort Wayne, Ind.; Myrtle Beach, S.C.; Albuquerque, N.M.; and Racine, Wis.
“The fact that all 50 states now have at least one metro on the improving list shows that the housing recovery has substantial momentum and continues to expand from one market to the next,” says Rick Judson, 2013 NAHB chairman. “Of course, there is still much room for improvement in metros that have not yet been listed as well as those that have, and we know that a key factor slowing this progress is today’s overly stringent mortgage standards that are keeping qualified buyers on the sidelines.”