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The Official Online Newspaper of NAHB
The second monthly release of the NAHB/First American Improving Markets Index (IMI) on Oct. 5 showed that 23 individual housing markets were “improving,” nearly double the 12 markets on the list in September.
The index identifies 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, Texas
- Anchorage, Alaska
- Bismarck, N.D.
- Casper, Wyo.
- Fairbanks, Alaska
- Fayetteville, N.C.
- Houma, La.
- Iowa City, Iowa
- Jonesboro, Ark.
- Kankakee, Ill.
- McAllen, Texas
- Midland, Texas
- New Orleans
- Odessa, Texas
- Pine Bluff, Ark.
- Pittsburgh
- Sherman, Texas
- Sumter, S.C.
- Waco, Texas
- Waterloo, Iowa
- Wichita Falls, Texas
- Winston-Salem, N.C.
"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 NAHB Chairman Bob Nielsen.
"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," he said.
"While Pittsburgh and New Orleans remain the two largest improving markets, the October IMI is heavily weighted by smaller cities in which energy and agriculture are the primary economic drivers and where the effects of the recession have been less pronounced," said NAHB Chief Economist David Crowe.
"In particular, Texas stands out for its seven entries on the improving markets list."
Bangor, Maine, was the only area to drop off of the improving markets list in October, due to a decline in local building permits.
The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health.
The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas.
The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau.
Register for the Fall Construction Forecast Webinar on Oct. 26
Register for the NAHB Fall Construction Forecast Webinar, which will provide attendees with up-to-the-minute analysis of the latest housing numbers and market trends right to their desktop. The webinar will be held from 2:00-4:00 p.m. ET on Wednesday, Oct. 26.
Speakers David Crowe, NAHB chief economist; Joel Prakken, senior managing director and co-founder of Macroeconomic Advisers; and Robert Denk, NAHB’s assistant vice president for forecasting and analysis, will address issues affecting the housing industry and the economy — including which housing markets may be improving and why; whether acquisition, development and construction credit is becoming more available; and if house prices are back in line with incomes and what it means for housing.
The fee is $29.95 for NAHB members and home builders associations and $49.95 for non-members.
To Register
For more information and to register, visit www.nahb.org/cfw.
Subscribe to the Free Eye on Housing Blog
For in-depth analysis of the latest housing statistics and research from the federal government, NAHB and other sources, Eye on the Economy readers are encouraged to visit Eye on Housing at http://eyeonhousing.wordpress.com/.
They can also subscribe to the blog’s free RSS feed, which will automatically alert them to every new posting.
Data You Can Build On
Get historical data, industry analysis and the latest forecasts, including state and metro, from HousingEconomics.com. Support your business decisions with in-depth analyses, detailed Excel tables, overviews and more. For more information, visit HousingEconomics.com.
Register for the Fall Construction Forecast Webinar on Oct. 26
Register for the NAHB Fall Construction Forecast Webinar, which will provide attendees with up-to-the-minute analysis of the latest housing numbers and market trends right to their desktop. The webinar will be held from 2:00-4:00 p.m. ET on Wednesday, Oct. 26.
Speakers David Crowe, NAHB chief economist; Joel Prakken, senior managing director and co-founder of Macroeconomic Advisers; and Robert Denk, NAHB’s assistant vice president for forecasting and analysis, will address issues affecting the housing industry and the economy — including which housing markets may be improving and why; whether acquisition, development and construction credit is becoming more available; and if house prices are back in line with incomes and what it means for housing.
The fee is $29.95 for NAHB members and home builders associations and $49.95 for non-members.
To Register
For more information and to register, visit www.nahb.org/cfw.
Subscribe to the Free Eye on Housing Blog
For in-depth analysis of the latest housing statistics and research from the federal government, NAHB and other sources, Eye on the Economy readers are encouraged to visit Eye on Housing at http://eyeonhousing.wordpress.com/.
They can also subscribe to the blog’s free RSS feed, which will automatically alert them to every new posting.
Data You Can Build On
Get historical data, industry analysis and the latest forecasts, including state and metro, from HousingEconomics.com. Support your business decisions with in-depth analyses, detailed Excel tables, overviews and more. For more information, visit HousingEconomics.com.
