The number of housing markets showing improvement, as identified by the NAHB/First American Improving Markets Index, reached unprecedented levels in December, swelling to a total of 201 markets across the country.
NAHB, Improving Markets Index, IMI, December 2012, 201 metros, record
The number of housing markets showing improvement, as identified by the NAHB/First American Improving Markets Index , reached unprecedented levels in December, swelling to a total of 201 markets across the country.
The record-setting number included 84 metros making their debut on the list; at the same time, only eight fell off, resulting in a net gain of 76. With the new additions, 44 states plus the District of Columbia are now represented on the IMI.
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.
"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. However, that is absent a major policy change of the kind that some policymakers have been discussing with regard to the mortgage interest deduction."
New additions to the index include:
San Luis Obispo
To see the full list of all 201 metros, click here .