Improving Housing Markets Nearly Double

Washington, DC, Jan. 10, 2012 -- The number of housing markets showing measurable improvement nearly doubled in January, according to the National Association of Home Builders/First American Improving Markets Index.

The IMI now shows 76 improving markets, up from 41 in December, with 31 states and the District of Columbia represented by at least one entry.

Only five metropolitan areas dropped from the NAHB/First American Improving Markets Index in January:  Anchorage, Alaska; Fort Wayne, Ind.; Canton, Ohio; Scranton, Pa.; and Charleston, W. Va.

A complete list of all 76 metropolitan areas currently on the IMI is available at: www.nahb.org/imi.

“The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing, and is even more relevant when you consider the expanding geographic distribution of the list – which now includes 31 states and the District of Columbia,” noted NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.

“This trend could be even stronger if not for the numerous impediments that continue to slow a housing and economic recovery, including overly restrictive lending policies and the growing inventory of distressed properties in certain markets.”