Latest News / Operations & Technology

Number of improving housing markets surges to 201 in December

December 7, 2012
/ Print / Reprints /
ShareMore
/ Text Size+

The number of housing markets considered "improving" according to parameters established by the National Association of Home Builders/First American Improving Markets Index (IMI) surged by 76 to a total of 201 metros in December, according to IMI data. The index also shows that the number of states represented on the list by at least one metro increased from 38 in November to 44 (plus the District of Columbia) in December.  

The index identifies metropolitan 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 84 new metros were added to the list and eight were dropped from it this month. Newly added metros include such geographically diverse locations as Atlanta, Ga.; Bloomington, Ill.; Ann Arbor, Mich.; Seattle, Wash.; and Green Bay, Wis.  

”The big gain in improving markets this December indicates that key measures of housing and economic strength have now been holding steady or improving in metros across the country for six months or more, which is an important signal of stability amidst the slowly emerging recovery,” said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “The main thing that's limiting the progress we're seeing right now is the difficulty that potential buyers continue to experience with regard to overly tight mortgage qualifying standards.”  

“This fourth consecutive month of expansion in the IMI, coupled with the fact that well over half of all metro areas are now represented on the list, is in keeping with the upward trends that we've been seeing all year in terms of housing starts and sales, builder confidence and other measures,” noted NAHB Chief Economist David Crowe. “In general, we expect the overall housing recovery to continue expanding in 2013.”  

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, housing 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 201 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in December, is available at www.nahb.org./imi.   


Source: NAHB

Links

Did you enjoy this article? Click here to subscribe to Supply House Times. Stay connected with us via social media.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

8/26/14 1:00 pm EST

Free Webinar: Low Temperature Heat Emitter Options in Hydronic Systems

With proper design, you can create systems that require supply water temperatures no higher than 120° F under design load conditions.

Supply House Times

SHT September 2014 cover

2014 September

Our cover this month features incoming ASA President Rick Fantham, who holds the dual roles of president and CEO of Hajoca Corp., and London, Ontario-based Emco.

Table Of Contents Subscribe

Supply House Times Poll

Back to School

It’s back-to-school time, how do you stay knowledgeable on the industry:
View Results Poll Archive

The Supply House Times Store

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

CS-OflRGBhomepage.jpgWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Premier 125

Premier 125 button

The information SUPPLY HOUSE TIMES uses to rank the Premier 125 is the most accurate we can gather. It is primarily based on responses to a questionnaire we send to the wholesalers in our database, supplemented with information obtained from industry reports and estimates.

STAY CONNECTED

facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon  Google+