List of Improving Markets Hits New Record

Image

This is far better news for sellers than buyers but I does indicate the housing market is rebounding somewhat. Please read the article below and let me know what you think.

The FHA Condos Approval Company, Inc.

Please +1 Us on Google, Follow Us on Twitter or Like Us on facebook

The National Association of Home Builders/First American Improving Markets Index reached its highest level on record in September with a little more than 80 percent of markets qualifying as “improving.”

The index, released Monday, tracks 361 metropolitan areas for improvement in housing permits, employment, and house prices. Markets have to demonstrate improvement in all three areas for six consecutive months to make it on the list.

Of the 291 markets that made it onto the latest Improving Markets Index, 242 were repeats from the previous month, and 49 were new to the list.

Five markets dropped off the list over the past month. Those markets include Kankakee, Illinois; Burlington, North Carolina; Jacksonville, North Carolina; Winston, North Carolina; and Danville, Virginia.

“While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographical areas,” “said Rick Judson, chairman of the NAHB and a home builder from Charlotte, North Carolina.

The NAHB pointed out that markets new to the index this month spanned several regions of the country, including such metros as Macon, Georgia; St. Cloud Minnesota; Brownsville, Texas; Spokane, Washington; and Milwaukee, Wisconsin.

However, NAHB’s chief economist, David Crowe, pointed out that “[t]he dramatic increase in markets qualifying for the IMI in September was partly due to a recent improvement in the way that Freddie Mac measures home prices.” NAHB relies on Freddie Mac’s housing data for its index.

To read the complete article – please use the link below.

Improving Markets

Explore posts in the same categories: Real Estate Market Trends

Tags: , , ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: