The list of U.S. housing markets showing measurable and sustained improvement now includes 80 metropolitan areas, according to the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI). Although this level is down from the 100 markets shown as improving in May, the NAHB notes that list includes 28 new entrants and at least one representative from 31 different states (including the District of Columbia).
According to the NAHB, the IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. June's IMI showed some considerable shifting of markets on and off the list, with 52 metros holding on to their spots, 48 slipping from the list and 28 being added. New entrants to the improving list in June include Tuscaloosa, Ala.; Grand Junction, Colo.; Fargo, N.D.; Knoxville, Tenn.; and Dallas.
‘Though today's IMI reflects a decline in the number of improving markets from May, the list continues to show significant geographic diversity, with 31 states represented and roughly one quarter of all U.S. metros included,’ says NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla.
A complete list of all 80 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in June, is available online.