Housing Recovery Continues at Gradual Pace, Says NAHB

Washington, DC, May 7, 2015—Markets in 68 of the approximately 360 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the first quarter of 2015, according to the National Association of Home Builders/First American Leading Markets Index (LMI). This represents a year-over-year net gain of seven markets.

The index’s nationwide score edged up to .91, meaning that based on current permit, price and employment data, the nationwide average is running at 91% of normal economic and housing activity. Meanwhile, 68% of markets have shown an improvement year-over-year.

Baton Rouge, Louisiana continues to top the list of major metros on the LMI with a score of 1.43, or 43% better than its last normal market level. Other major metros leading the pack include Austin, Texas; Honolulu, Hawaii; Houston, Texas; and Oklahoma City, Oklahoma. Rounding out the top ten are San Jose, California; Los Angeles, California; Salt Lake City, Utah; Charleston, South Carolina; and Nashville, Tennessee.