Last September, NAHB released the first edition of the Improving Markets Index, which tracks housing markets nationwide that are showing growth. The monthly index measures growth from a specific trough point in three different categories—housing permits, home prices, and employment.
The most recent index in February included 99 metro areas, its highest point yet. Markets are added to and removed from the list each month.
Here’s a look at the 10 metro areas that have been on the list longest:
Bismarck, N.D. (7 months)
• Permit growth: 33.1% (Trough date: 3/31/09)
• Home price growth: 6.6% (Trough date: 1/31/10)
• Employment growth: 9.1% (Trough date: 12/31/07)
Casper, Wyo. (7 months)
• Permit growth – 11.3% (Trough date: 11/30/10)
• Home price growth – 2.6% (Trough date: 1/31/10)
• Employment growth – 11.1% (Trough date: 12/31/09)
Midland, Texas (7 months)
• Permit growth – 3.6% (Trough date: 4/30/09)
• Home price growth – 8.8% (Trough date: 1/31/10)
• Employment growth – 16% (trough date: 8/31/09)
Pittsburgh, Pa. (7 months)
• Permit growth: 1.7% (Trough date: 2/28/09)
• Home price growth: 4.1% (Trough date: 1/31/10)
• Employment growth: 4.1% (Trough date: 2/28/10)
Amarillo, Texas (6 months)
• Permit growth: 1.4% (Trough date: 10/31/08)
• Home price growth: 0.7% (Trough date: 1/31/10)
• Employment growth: 4.4% (Trough date: 4/30/10)
Fayetteville, N.C. (6 months)
• Permit growth: 2.1% (Trough date: 12/31/08)
• Home price growth: 0.3% (Trough date: 1/31/10)
• Employment growth: 3.2% (Trough date: 10/31/10)
McAllen, Texas (6 months)
• Permit growth: 0.4% (Trough date: 1/31/09)
• Home price growth: 2.7% (Trough date: 11/30/10)
• Employment growth: 6.7% (Trough date: 12/31/07)
Odessa, Texas (6 months)
• Permit growth: 27% (Trough date: 2/28/09)
• Home price growth: 2.4% (Trough date: 10/31/10)
• Employment growth: 19.2% (Trough date: 8/31/09)
Waterloo, Iowa (6 months)
• Permit growth: 1% (Trough date: 3/31/09)
• Home price growth: 1.2% (Trough date: 11/30/10)
• Employment growth: 2.4% (Trough date: 7/31/09)
Winston-Salem, N.C. (6 months)
• Permit growth: 1.7% (Trough date: 3/31/09)
• Home price growth: 0.7% (Trough date: 11/30/10)
• Employment growth: 1.6% (Trough date: 1/31/11)