The Improving Markets Index Summary was released by the NAHB in early April and once again, all 50 states have at least one area represented among the 273 metros listed. Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, points out,” Seventy-five percent of the country is seeing measurable improvement in market conditions.” Although this most recent Improving Markets Index includes one fewer metro area since the March report was released, this is due largely to lack of available housing inventory. Industry experts agree that small, solid gains are expected to continue into 2014. 
While the Improving Markets Index didn’t add to the total number of metros considered improving, it is notable that this report is backed by seven consecutive months of gains and some new metros were added. New metros on the Improving Markets Index in April were Macon, Ga.; Portland, Maine; Rocky Mount, N.C.; Eugene, Ore,; and Jackson, Tenn. Echoing statements from past Improving Markets Index press releases, NAHB chairman Rick Judson referenced the need builders have for available credit in order to purchase more land for homes as well as compensate for the rising cost of materials. With more available credit to the builders, more employees that were laid off during the crash could be reinstated and companies could ramp up their production. Consumer demand is limited as many Realtors® and homebuyers report shortages in their markets.
The Improving Markets Index measures three areas to consider a metro or market to be improving. To be selected for inclusion a metro must have increases in building permits for single-family homes, appreciation in home values, and gains in employment from the Bureau of Labor Statistics. With most of the country experiencing gains in these areas, the outlook for housing continues to be hopeful.
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