Apr
22

Numerous Housing Markets Improving

April 22, 2012

The country’s most improved metropolitan areas have been identified, though the Chicago housing market is not one of them.

NAHB LOGOThe National Association of Home Builders and First American Title Insurance Company have released the Improving Markets Index for April. The index showed improvement in 101 metropolitan areas.

The Improving Markets Index (IMI) looks at three specific factors over a six-month period when determining if a metro area is moving in a positive direction:

  • New single-family home construction permits from the U.S. Census Bureau.
  • Existing-home price appreciation from Freddie Mac-owned mortgages.
  • Employment growth via data from the U.S. Bureau of Labor Statistics.

“While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction,” said NAHB Chairman Barry Rutenberg.

“A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations.”

Having so many markets on an upswing is music to the ears of everyone from home builders to realtors and potential new home buyers. After a few grueling years of the real estate market sitting in a no man’s land due to high unemployment, foreclosures and unstable stock markets, news of so many metro areas improving is like a breath of fresh air after being stuck underwater.

The top five metro areas on the Improving Market Index for April:

  1. Little Rock, AR
  2. Fresno, CA
  3. Merced, CA
  4. Boulder, CO
  5. Denver, CO

Unfortunately, metro areas in the Chicagoland real estate market did not make an appearance on the IMI list. However, Chicago home sales have seen a boost recently. Overall, any improvement in the national real estate market is a good sign as the country begins to put the real estate crisis in its rear-view mirror.

Categories: Economy, NAHB

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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