Housing Markets Continue to Show Gradual Improvement
Markets in 56 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI). This represents a net gain of two from the previous month. The index's nationwide score of 0.86 indicates that, based on current permits, prices and employment data, the nationwide average is running at 86% of normal economic and housing activity.
“More markets are slowly returning to normal levels, and we expect this upward trend to continue as an improving economy and pent-up demand bring more home buyers back into the marketplace,” said Rick Judson, NAHB chairman and a home builder from Charlotte, N.C. “Policymakers must be careful to avoid actions that would harm consumer confidence and impede the ongoing recovery.”