Home owners living in metro areas are beginning to notice a shift in home prices and sales, leading to more interest regarding the value of your home. In fact, the housing marketing seems to be seeing a huge shift.
The National Association of Home Builders (NAHB) /First American Improving Markets Index (IMI) released this week lists 274 metro areas with improved housing markets. Between February and March, 15 new markets were added to the list!
Improvement indicators include increased housing permits, employment and house prices over a six consecutive month period. It’s interesting to note that Birmingham, Alaska, Bloomington, Indiana, Santa Barbara, California, and Colorado Springs, Colorado all were added this month
NAHB Chairman Rick Judson explained the good news, stating,“This is the second consecutive month in which every state is represented by at least one metro on the improving list.”
NAHB Chief Economist David Crowe explained that the improving markets (over 75%) indicated a very “solid” market in many communities, though individual markets may have issues with recovery. To see details and the full report, please click here.