I had been tracking the National Association of Home Builders (NAHB) Improving Markets Index (IMI), but missed the last 2 months as I got busy with the spring market.
Apparently Minneapolis/ St Paul, MN and Duluth MN had dropped off the IMI. This month St Cloud, MN was added to the IMI.
The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list.
A complete list of all 84 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in July, is available at www.nahb.org/imi.