Over 70% Of US Metro Market Housing Markets Improve In February
Employment growth from the Bureau of Labor Statistics
Housing price appreciation from Freddie Mac
Single-family housing permits growth from the U.S. Census Bureau.
Next, for each of the above data sets, the National Association of Homebuilders separates for local data in each U.S. major metropolitan area.
And, lastly, armed with data, the NAHB looks for areas in which growth has occurred for all three data points for six consecutive months; and for which the most recent \”bottom\” is at least six months in the past.
In this way, the Improving Market Index doesn\’t just measure housing market strength — it measures general economic strength.
Of the 22 markets added to the Improving Market Index in November, the following cities were included : Chico, California; Columbus, Georgia; Fort Wayne, Indiana; Topeka, Kansas; and Wenatchee, Washington.
Several markets dropped off the list, too, including Champaign, Illinois; Lebanon, Pennsylvania; and Amarillo, Texas.
The complete list of 259 metropolitan areas on February\’s IMI, plus breakouts of the metropolitan areas newly added and dropped is available online at http://www.nahb.org/imi.]]>