Washington, DC Aug. 7, 2013 -- A total of 247 metropolitan areas across 49 states and the District of Columbia qualified for inclusion on the National Association of Home Builders/First American Improving Markets Index for August.
While this is eight metros shy of the number listed on the IMI in July, it is approximately three times the number of metros that qualified for the list in August of 2012.
"In all, 244 metros that were listed as improving in July retained that status in August, and this is an encouraging sign of the continuing housing recovery," noted NAHB chairman Rick Judson.
"That said, we know that the pace of improvement is being hampered somewhat by challenges that builders and buyers are experiencing with regard to the availability of credit, materials, lots for development and labor."
Close to 70 percent of all U.S. metros are represented, and the geographic distribution of entrants continues to be very widespread, NAHB said.