Improving Housing Markets Index Adds 29 Areas

Washington, DC, Feb. 6, 2012 -- The list of improving housing markets expanded by 29 metro areas in February to include a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index.

Thirty-six states are now represented by at least one market on the list.

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.

Notable new entrants to the list in February include Miami, Fla; Boston; Detroit; Kansas City, Mo.; Portland, Ore.; Memphis, Tenn.; and Salt Lake City.

"The number of improving housing markets has risen for six consecutive months, and 36 states now have at least one metropolitan area on the list," noted NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.

"This indicates that despite the many challenges that continue to drag on a housing recovery – including the tight lending environment for builders and buyers – improving conditions are slowly but surely spreading from one housing market to the next."