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Improving Markets List Holding Strong in April

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Improving Markets List Holding Strong in April
Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, with 273 metros on the NAHB/First American Improving Markets Index (IMI), released this week. This total reflects a net reduction of one market since March, and for the third time in a row, includes entrants from all 50 states and the District of Columbia.
Five new markets were added to the list and six markets were dropped from it this month. Newcomers include the geographically diverse locations of:
  • Macon, GA.
  • Portland, ME
  • Rocky Mount, N.C.
  • Eugene, OR. and
  • Jackson, TN.
Commenting on the latest data, NAHB Chief Economist David Crowe noted, "After a strong run-up through late 2012 and early 2013, the number of improving markets is holding steady at a high level," with 75% of metros covered by the IMI now seen on the upswing. "We can expect to see more gradual gains going forward as challenges related to increased demand kick in – including everything from tightened supplies of developable lots and labor to the rising cost of building materials,” he added.
For a complete list of all 273 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in April, visit www.nahb.org/imi. For a quick-reference, state-by-state listing of metros on the IMI, visit www.nahb.org/improvingmarkets.
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  • Joanne Loftus
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