Improving Housing Markets List Expands
Washington, DC, Sept. 10, 2012 -- The number of improving housing markets across the country rose to 99 in September, according to the National Association of Home Builders/First American Improving Markets Index.
This is up from 80 metros that were listed as improving in August and includes representatives from 33 states as well as the District of Columbia.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months.
Markets added to the list in September include such geographically diverse locations as Tucson, Ariz.; Jacksonville, Fla.; Springfield, Ill.; Greenville, N.C.; and Bend, Ore.
“The number of improving housing markets grew by 19 in September as 68 metros retained their spots, 31 new metros were added and just 12 dropped off the list,” noted Barry Rutenberg, chairman of the National Association of Home Builders.
“This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next.”
More metros across the country are experiencing a sustained uptick in house prices, employment and new building activity as rising consumer confidence in local market conditions pushes more people to consider a new-home purchase, noted NAHB Chief Economist David Crowe.
“That said, overly tight lending conditions for builders and buyers continue to slow this process considerably.”