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NAHB Improving Markets Index Hits New High

November 14, 2012 — CDJ Staff

The National Association of Home Builders has been tracking housing markets which have improved as the economy recovers. November saw the addition of twenty-two further markets, bringing the list of a total of 125 markets. In order to get on the list, the area has to show improvement in housing permits, employment, and house prices for at least six months. In November 2011, the list had only thirty entries.

Getting on the list is no guarantee of staying there. Six housing markets were dropped from the list. These areas are not limited to any part of the country, and include markets in Pennsylvania, North Carolina, Florida, Indiana, Texas, and California. Each of these states is represented multiple times on the list of improving markets.

“The solid increase in the number of improving housing markets this month illustrates the degree to which the housing recovery has gained momentum since we initiated the IMI last year,” said David Crowe, Chief Economist of the NAHB. Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, said that “this new high point for the Improving Markets Index provides the latest evidence that housing has turned a corner due to rising demand from consumers who are increasingly confident about the direction of local home values.”

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NAHB Improving Markets Index Hits New High