Small Cities Show Most Housing Improvement

Washington, DC, Nov. 8, 2011 -- The number of improving housing markets continued to expand for a third consecutive month in November, according to the National Association of Home Builders/First American Improving Markets Index.

The index rose from 23 to 30 in November.

The index identifies metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. The following metros were listed in November:

Alexandria, La.
Amarillo, Texas
Anchorage, Alaska
Bismarck, N.D.
Casper, Wyo.
Cheyenne, Wyo.
Corpus Christi, Texas
Davenport, Iowa
Fairbanks, Alaska
Fayetteville, N.C.
Fort Collins, Colo.
Hinesville, Ga.
Houma, La.
Jonesboro, Ark.
Kankakee, Ill.
Lima, Ohio
McAllen, Texas
Midland, Texas
Monroe, La.
New Orleans, La.
Odessa, Texas
Pine Bluff, Ark.
Pittsburgh, Pa.
Sherman, Texas
Sumter, S.C.
Tyler, Texas
Waco, Texas
Waterloo, Iowa
Williamsport, Pa.
Winston-Salem, N.C.

"The November IMI remains heavily weighted by smaller cities, with Pittsburgh and New Orleans as the only major metros represented," said David Crowe, chief economist, NAHB.

"This is indicative of the tough conditions that continue to prevail across much of the country, particularly in larger markets that have been hit hardest by job losses and foreclosures during the recession and that will take more time to heal. However, momentum is building in pockets of the country where energy and agriculture are the dominant industries and where consistent, measurable improvements in economic conditions are now becoming apparent."