According to the National Association of Home Builders' second edition of its First American Improving Markets Index, the number of improving housing sectors nearly doubled.
The company's IMI showed that 23 individual housing markets showed better conditions during September, up from 12 in the previous report. To qualify, a market must show sustained improvement in terms of housing permits, employment and prices of homes for sale for at least six months.
Texas had the most markets on the list with seven, including Amarillo, McAllen, Midland, Sherman, Waco, Odessa and Wichita Falls. Pittsburgh and New Orleans were the two most-improved markets, NAHB representatives relayed. The only region to drop from the list between editions was Bangor, Maine, as it experienced a drop in local building permits.
"Both the number and geographic diversity of improving housing markets expanded this month, with Iowa, Illinois and South Carolina all newly represented by one entry or more on the list," said NAHB chairman Bob Nielsen.
While the Houston real estate market was not one of the 23 making the list, its housing statistics have shown monthly improvements for a significant period of time.
Courtesy of 2M Realty News