The number of U.S. housing markets showing consistent improvement expanded by 22 in November to a total of 125, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI).
According to the NAHB, this marks a third consecutive monthly gain for the index, which now includes representatives from across 38 states and the District of Columbia. Markets added to the list in November include San Diego; Gainesville, Fla.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C.
‘The solid increase in the number of improving housing markets this month illustrates the degree to which the housing recovery has gained momentum since we initiated the IMI last year,’ says NAHB Chief Economist David Crowe. ‘Compared to the 30 markets that made the list as of November 2011, we now have 125, which is about one-third of all the markets surveyed for this index.’
A complete list of all 125 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in November, is available online.