The National Association of Home Builders released latest numbers from its Improving Market Index, and it shows continued good news for the industry: Twenty markets were added to the list of improving areas.
ForResidentialPros.com spoke with Mark Pursell, senior vice president with NAHB a few weeks ago who mentioned the IMI and it's growth. "The market is still at the bottom but we are starting to see activity and tracking those by metro areas using the Improving Market Index," Pursell says. "When we started it three months ago, it was only improving in 16 markets, now 30 markets are improving. Nationally it's not looking great but some markets are coming back. We still have headwinds with the economy and we should start coming out of that in 2012 and better in 2013, 2014."
Markets that were added include: Ann Arbor, Mich.; Athens, Ga.; Boulder, Colo.;
Burlington, Vt.; Canton, Ohio; Charleston, W.V.; Danville, Va.; Fort Wayne, Ind.; Grand Forks, N.D.; Jackson, Miss.; Kingsport, Tenn.; Laredo, Texas; Lincoln, Neb.; Muncie, Ind.; Muskegon, Mich.; San Jose, Calif.; Scranton, Pa.; Toledo, Ohio; Washington; and Winchester, Va.
Nine markets did drop off the IMI in December, including: Alexandria, La.; Fairbanks, Alaska; Hinesville, Ga.; Houma, La.; Jonesboro, Ark.; Lima, Ohio; Pine Bluff, Ark.; Sumter, S.C. and Waco, Texas. All can be contributed to softening housing markets except Jonesboro (employment) and Waco (single-family housing permits), according to NAHB.
How's the market where you live?