Recently, the National Association of Home Builders (NAHB) estimated that nearly one-quarter of all United States metros are improving housing markets. Altogether, there have been 80 metropolitan areas across 32 states that show measureable improvement.
In order to be considered for the First American Improving Markets Index (IMI), metro areas must have shown improvement in housing permits, employment and house prices for at least six consecutive months.
The interesting fact about the newest additions to the IMI is that the list includes metros across every region of the country, all which have distinctly different economic and employment characteristics. The one thing each metro area has in common is a tight lending environment for both builders and buyers, which drives their positive momentum.
There is a growing recognition among consumers that now is an opportune time to consider a home purchase as one-quarter of the U.S. metros are currently improving housing markets. Have you noticed any changes across your city?
Our friends at enLIGHTenment further explain this in their article, Statistics Point to Housing Growth in 80 Cities.