5. Tampa

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Tampa squeezed its way into the top five, with a weak but improving housing market.  The metro is largely improving due to the 8.36% increase in the current on mortgage indicator over the past three months.

4. San Jose

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San Jose’s market is in range and improving. The metro is improving largely due to the 3.86% increase in the purchase application indicator over the past three months.

3. Denver

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Denver posted an in range and improving housing market, with majority of the improvement coming from a 5.495 increase in the purchase application indicator over the past three months.

2. Sacramento

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Although Sacramento’s housing market is weak and improving, it still made it to the second slot for most improved metro markets. Most of the improvement is due to the 4.07% increase in the employment indicator over the past three months.

1. Portland

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Coming in as the most improved metro area, Portland’s housing market is weak and improving. The metro can attribute most of its improvement to the 4.67% increase in the purchase application indicator over the past three months.