Improving Housing Markets Index Holds Steady
Washington, DC, April 8, 2013 -- Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, according to the National Association of Home Builders.
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There were 273 metro areas on the Improving Markets Index. This was a net reduction of one market since March and again includes entrants from all 50 states and the District of Columbia.
“The stability in the improving markets list this month is encouraging, with three quarters of all metros tracked by our index considered on the upswing as the housing recovery spreads to parts of every state,” said NAHB Chairman Rick Judson.
“In some markets, the main thing that’s holding back a recovery is a relatively thin inventory of homes for sale, which could be resolved if builders had easier access to credit for building homes and putting people back to work.”
NAHB Chief Economist David Crowe said future gains should be gradual as challenges related to increased demand kick in – including everything from tightened supplies of developable lots and labor to the rising cost of building materials.