NAHB: October 2011 Improving Market Index


The National Association of Home Builders released their Improving Market Index.  This index was started a couple of months ago by NAHB and First American.  This index hasn’t hit upon the Twin Cities area yet, primarily because we are not an improving market yet…  I do want to keep an eye on this because eventually we will be showing up on this index, hopefully.

Here is a pretty good video explaining the latest index results from NAHB.  NAHB: October 2011 Improving Market Index.

Basically, the improving markets are in Energy Producing areas (a.k.a. oil drilling).  So this is further evidence our biggest struggle is jobs, not inventory.

 

click to enlarge

 

October 6, 2011 – The second edition of the National Association of Home Builders/ First American Improving Markets Index (IMI), released today, shows 23 individual housing markets now qualifying as “improving” under the new gauge’s parameters. This is nearly double the 12 housing markets that made the list last month.

The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. The following metros were listed in October:

  • Alexandria, LA
  • Amarillo, TX
  • Anchorage, AK
  • Bismarck, ND
  • Casper, WY
  • Fairbanks, AK
  • Fayetteville, NC
  • Houma, LA
  • Iowa City, IA
  • Jonesboro, AR
  • Kankakee, IL
  • McAllen, TX
  • Midland, TX
  • New Orleans, LA
  • Odessa, TX
  • Pine Bluff, AR
  • Pittsburgh, PA
  • Sherman, TX
  • Sumter, SC
  • Waco, TX
  • Waterloo, IA
  • Wichita Falls, TX
  • Winston-Salem, NC

“Both the number and geographic diversity of improving housing markets expanded this month, with Iowa, Illinois and South Carolina all newly represented by one entry or more on the list,” said National Association of Home Builders (NAHB) Chairman Bob Nielsen, a home builder from Reno, Nev. “This is further evidence that, despite the tough conditions that persist in many cities, pockets of improvement are emerging in local housing markets across the country.”

 

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  1. Pingback: Number of Improving Housing Markets Nearly Doubles in October |

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