The list of Improving Housing Markets (IHM) maintained byrnthe National Association of Home Builders (NAHB) took another big jump inrnFebruary, rising from 76 in January and more than doubling the 41 reported inrnDecember. There are now 98 metropolitanrnareas representing 36 states included on the list.</p
The IHM identifies metropolitan areas that have shownrnimprovement from their respective troughs on each of three metrics -rnemployment, housing permits, and home prices – for at least six consecutivernmonths. NAHB uses data from the Bureaurnof Labor Statistics, the U.S. Census Bureau, and Freddie Mac to measurernimproved performance.</p
The additions to the February Index include somernmetropolitan areas that had been particularly weak including Miami, Detroit,rnMemphis, Kansas City, Missouri; Portland, Oregon, and Salt Lake City. NAHB points out that inclusion in the Indexrndoes not indicate strong recovery, merely that some of these troubled areas arerncoming off of extreme lows.</p
Seven metro areas dropped off of the Index in February duernto softening housing prices. One ofrnthese was Washington, DC, one of the few areas that had continued to showrnstrong prices and sales through 2011. <br /<br /"While many of the markets on the February IMI are far from fullyrnrecovered, the index points out where employment, home prices and housingrnproduction are no longer retreating and have held above their lowest recessionrntroughs for six months or more," said NAHB Chief Economist David Crowe.rn"This is a sign that a large cross section of the country is starting tornturn the corner as local economic conditions stabilize."</p<table width="600" border="1" cellpadding="2" cellspacing="0"<tbody<tr
It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...
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