More than 70 percent of U.S. metros housing markets are showing signs of strengthening, according to the June release of the National Association of Home Builders/First American Improving Markets Index. The number of improving housing markets totaled 263 in June, with metros from 49 states and the District of Columbia included. The index identifies metro areas that have shown improvement in housing permits, employment, and housing prices for at least six consecutive months.
For June, 29 metros were added to the list while 24 dropped off. Among the new metros added in June: Salinas, Calif.; Sioux City, Iowa; Chicago; Topeka, Kan.; Baton Rouge, La.; Laredo, Texas; and Philadelphia.
“As market conditions improve across most of the country, some metros have moved onto the IMI list while marginal seasonal fluctuations have nudged others off of it,” says NAHB Chief Economist David Crowe. “This is to be expected as the recovery expands. Meanwhile, it’s worth noting that the number of improving markets is now more than three times what it was in June 2012.”
The author of this article is: realtormag.realtor.org
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