The number of “improving markets” spread throughout 33 states and grew to 103 from 99 the prior month. This month’s list captured a colorful mix of small and large metro areas according to a recent RisMedia report.
New, Returning and Deleted Markets
Eleven new markets broke into the line-up, while 92 maintained their positions. Seven markets retreated from their former rankings and were deleted from the list.
Improving Real Estate Markets
Methodology
Each month the Home Builders/First American Improving Markets Index (IMI) is compiled and released. The IMI measures:
- Employment growth- (Based on the Bureau of Labor Statistics)
- House Price appreciation – (Freddie Mac Stats)
- Growth in Single-Family Housing Permits — (U.S. Census Bureau).
Metro areas must demonstrate improvement in all three measures for six months or more in order to make the cut for the improving markets roster. National Association of Home Builders (NAHB) compiles the “latest available data” to complete the monthly list of improving markets. Here’s an abbreviated list of this month’s improving markets by category.
New This Month
- Santa Cruz, CA
- Albany, GA
- Savannah, GA
- Honolulu, HI
- Pocatello, ID
- Lake Charles, LA
- Raleigh, NC
- Cincinnati, OH
- Oklahoma City, OK
- State College, PA
- Abilene, TX
Top 10 Listed
- Fayetteville, AR
- Jonesboro, AR
- Little Rock, AR
- Phoenix, AZ
- Prescott, AZ
- Tucson, AZ
- Yuma, AZ
- Hanford, CA
- Sacramento, CA
- Santa Cruz, CA*
Deleted This Month
- Jacksonville, FL
- Lakeland, FL
- Bloomington, IN
- Lawton, OK
- Bend, OR
- Texarkana, TX
- Charlottesville, VA
Outlook
Kurt Pfotenhauer, Vice Chairman at First American Title Insurance Company concluded, “For potential buyers across the country, it is becoming increasingly apparent that now is a good time to explore a new-home purchase.”
To see the complete list of 103 improving markets visit the “List of Markets Included in the NAHB/First American Improving Markets Index (IMI)” section of the landing page.
To search for real estate across the country visit First Preston HT.com or BidSelect.com. You can also join us on Facebook and follow us on Twitter.
Sources:
- RisMedia. List of Improving Housing Markets Eclipses 100 in October. Posted: October 12, 2012.
- National Association of Home Builders (NAHB). NAHB/First American Improving Markets Index (IMI).
[gravityform id=”1″ name=”Contact Us”]