The National Association of Home Builders has been monitoring the health of the metro areas and indexing them. Last month, Minneapolis/St Paul made the Improving Markets Index. This month Duluth and Rochester were added to Improving Markets Index as well.
|NAHB/First American Improving Markets Index (IMI)|
The IMI is now up to 98 Cities exlcuding the 7 Cities fell off the IMI this month.
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.Overall there are now 98 markets on the IMI, and 7 Cities fell off the IMI this month.
Below is an interactive Google Map I put together of the Cities on the NAHB/First American- Improving Markets Index.
*there may be errors now because there are 98 Cities – I did my best to get it accurate.
View NAHB Improving Market Index, IMI in a larger map
- Nearly 100 Metro Areas on Improving Market List (mortgagenewsdaily.com)
- First American and NAHB add more housing markets to improvement index (housingwire.com)
- Improving Markets Index Up in February (builderonline.com)
- NAHB: Builder Confidence is Up for Second Straight Month (batcpls.org)