List of Improving Housing Markets Expands to 259

The number of improving housing markets expanded for a sixth consecutive month to a total of 259 metropolitan areas on the National Association of Home Builders/First American Improving Markets Index (IMI). This total is up from 242 markets listed as improving in January.

Notably, the IMI list now contains markets from all 50 states, suggesting that the housing recovery has substantial momentum.

 

IMI_Feb

 

The IMI identifies metro areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. A total of 20 new metros were added to the list and three were dropped from it this month. Newly added metros include such geographically diverse locations as Rome, Ga.; Fort Wayne, Ind.; Myrtle Beach, S.C.; Albuquerque, N.M.; and Racine, Wis.

Just over 70 percent of the 361 metros covered by the IMI are listed as improving in February. That marks a significant improvement from when the index was initiated with just 12 improving metros in September of 2011. 

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three measures for at least six consecutive months following those measures’ respective troughs before being included on the improving markets list.

A complete list of all 259 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in February, is available at www.nahb.org/imi.

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16 Responses to List of Improving Housing Markets Expands to 259

  1. [...] on the local housing market this week – Myrtle Beach was one of 20 metro areas added to the National Home Builder’s Improving Market Index (IMI) this month! Myrtle Beach made the list based on its improvement in the areas of housing permits, [...]

  2. [...] So are home prices. Even foreclosures are declining. In the latest housing data release, the National Association of Home Builders Wednesday reported that the housing recovery has spread to 70% of the 361 metro markets tracked by [...]

  3. [...] So are home prices. Even foreclosures are declining. In the latest housing data release, the National Association of Home Builders Wednesday reported that the housing recovery has spread to 70% of the 361 metro markets tracked by [...]

  4. Mike Arnett says:

    Obviously, good news nationwide…here in Portland, OR, however, almost no lot supply will hamper some growth and cause price increases to speed up.

  5. Tom Anson says:

    Cool! It’s good to see the King County – Seattle area picking up.

    Mike: Portland will continue to grow, but it’ll be in the outlying areas/towns, unless builders are willing to pick up whole blocks of bad neighborhoods at a time. (I’m thinking MLK north of the Rose Quarter would be a good place to star…)

  6. [...] this lackluster economic news, housing data continue to be positive. The National Association of Home Builders/ First American Improving Markets Index (IMI) rose to a count …. The recovery in housing is officially nationwide, as at least one market from every state now [...]

  7. [...] While the share of single-family owner- and contractor-built housing remains elevated, that share is declining as spec home building comes back in markets where homebuyer demand is growing again. [...]

  8. [...] person who was looking for a home a year ago may now feel more confident in the stronger market. A lead from three years ago may or may not have purchased, or they may have friends or family [...]

  9. [...] February the National Association of Home Builders expanded their Improving Markets Index of  housing markets to include the Myrtle Beach area.  [...]

  10. […] February the National Association of Home Builders expanded their Improving Markets Index of housing markets to include the Myrtle Beach area. The IMI […]

  11. […] of the Myrtle Beach area are adding to the steady improvement. The addition of Myrtle Beach to the National Home Builder’s Improving Market Index in February is yet another indication that the market here as well as in other South Carolina […]

  12. […] of the Myrtle Beach area are adding to the steady improvement. The addition of Myrtle Beach to the National Home Builder’s Improving Market Index in February is yet another indication that the market here as well as in other South Carolina metro […]

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