The list of markets showing improvement now includes 103 areas across the United States, according to the most recent monthly report from the National Association of Home Builders. Through its NAHB/First American Improving Markets Index, the association noted an increase in October, up from 99 improving markets in the previous month. The improving markets count includes 33 states and Washington D.C. as having representation on the list.
Despite a small uptick, NAHB said the sign was encouraging from an overall housing market point of view.
“While 11 new housing markets were designated as improving in October, 92 metros retained their spots on the IMI and just seven slipped from the list,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “This is an encouraging sign that the housing recovery is proceeding at a steady pace as firming prices and employment help spur new building activity, which in turn generates new jobs and more home sales.”
The association saw the trend as having solidified, noting the fact that most markets on the list are maintaining their positions, rather than making the list and then dropping off month-to-month.
See the full list of improving markets.
Written by Elizabeth Ecker