The list of improving housing markets continues to rise and now includes 99 markets across the U.S., according to the National Association of Home Builders/First American Improving Markets Index.
Tracked on a monthly basis by the NAHB, the list has risen from 80 improving markets in August to nearly 100 in September. The metropolitan areas that appear on the list have shown improvement in housing permits, employment and house prices for at least six consecutive months, according to the association.
“The number of improving housing markets grew by 19 in September as 68 metros retained their spots, 31 new metros were added and just 12 dropped off the list,” said Barry Rutenberg, chairman of the NAHB and a home builder from Gainesville, Fla. “This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next.”
The improvements are leading to more home purchase considerations across those metro areas, NAHB says, as well as leading to more home buyers to “get off the fence.”
“More metros across the country are experiencing a sustained uptick in house prices, employment and new building activity as rising consumer confidence in local market conditions pushes more people to consider a new-home purchase,” said NAHB Chief Economist David Crowe. “That said, overly tight lending conditions for builders and buyers continue to slow this process considerably.”
Written by Elizabeth Ecker