30 housing markets on the upswing

Davenport, Iowa, and Fort Collins, Colo., are among the 30 housing markets to make NAHB/First American’s Improving Markets Index, which identifies metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices.

The number of improving markets expanded for a third consecutive month in November, rising from 23 to 30. The list dropped two metros (Iowa City, Iowa, and Wichita Falls, Texas) and added nine new ones: Cheyenne, Wyo.; Corpus Christi, Tex.; Davenport, Iowa.; Fort Collins, Colo.; Hinesville, Ga.; Lima, Ohio; Monroe, La.; Tyler, Texas; and Williamsport, Pa.

“The November IMI remains heavily weighted by smaller cities, with Pittsburgh and New Orleans as the only major metros represented,” said NAHB chief economist David Crowe. “This is indicative of the tough conditions that continue to prevail across much of the country, particularly in larger markets that have been hit hardest by job losses and foreclosures during the recession and that will take more time to heal. However, momentum is building in pockets of the country where energy and agriculture are the dominant industries and where consistent, measurable improvements in economic conditions are now becoming apparent.”

The 30 markets to make the November IMI are:

• Alexandria, La.
• Amarillo, Texas
• Anchorage, Alaska
• Bismarck, N.D.
• Casper, Wyo.
• Cheyenne, Wyo.
• Corpus Christi, Texas
• Davenport, Iowa
• Fairbanks, Alaska
• Fayetteville, N.C.
• Fort Collins, Colo.
• Hinesville, Ga.
• Houma, La.
• Jonesboro, Ark.
• Kankakee, Ill.
• Lima, Ohio
• McAllen, Texas
• Midland, Texas
• Monroe, La.
• New Orleans, La.
• Odessa, Texas
• Pine Bluff, Ark.
• Pittsburgh, Pa.
• Sherman, Texas
• Sumter, S.C.
• Tyler, Texas
• Waco, Texas
• Waterloo, Iowa
• Williamsport, Pa.
• Winston-Salem, N.C.

“Texas continues to dominate the list of improving housing markets in November, increasing its net number of entries to eight and continuing a trend in which energy-producing metros seem to be doing better than the average,” said NAHB chairman Bob Nielsen, a home builder from Reno, Nev. “Meanwhile, the geographic diversity of metros also continued to expand this month, with the states of Colorado, Georgia and Ohio all represented for the first time. This is further evidence that all housing markets are uniquely dependent upon local conditions, and some are leading the way toward an eventual, broader recovery.”

For more on the November IMI, visit: http://www.nahb.org/news_details.aspx?newsID=13925.