A few weeks ago, ForResidentialPros.com reported on the latest numbers out of National Association of Home Builders that pointed to a leveling in the housing market. This seems to be the case by looking at the April Improving Market Index released this week.
According to NAHB's IMI, 101 markets are improving - up two points from March, and one point in February. While the market is improving, it is slowing as shown by the IMI results since it launched in September 2011 (see chart left).
"After five consecutive months of gains, the IMI recently began to plateau, with many markets holding steady and a few experiencing the ups-and-downs that are typical in a choppy recovery," says NAHB Chief Economist David Crowe. "The IMI is designed to highlight markets that are showing consistent improvement, and those markets that have registered the smallest gains are more susceptible to dropping off the list due to a minor setback in prices, permits or employment."
Thirteen markets were added to the list; 11 were removed.
How's the market where you live?