Washington, DC, March 22, 2013 -- The list of improving U.S. housing markets expanded for a seventh consecutive month in March to include 274 cities, according to the National Association of Home Builders.
NAHB said its Improving Markets Index showed a net gain of 15 markets since February and includes entrants from all 50 states and the District of Columbia.
Its is the second consecutive month in which every state is represented by at least one metropolitan area on the improving list, NAHB said.
“With just over 75 percent of the 361 metros covered by the IMI now seen as improving, the housing market is on considerably more solid footing than it was at this time last year,” said NAHB Chief Economist David Crowe.
“While we expect this positive momentum to continue, it’s important to understand that many markets are just beginning the recovery process, and that numerous issues – from credit availability to the rising cost of building materials and emerging lot shortages – are slowing the pace of that advancement.”