Eighty Markets Show Housing Improvement, “Fragile” Recovery

There are now 80 housing markets showing improvement, as measured by the National Association of Home Builders (NAHB) in its monthly housing report. 

The NAHB/First American Improving Markets Index (IMI) lists 28 entrants to the list of improving metropolitan areas, despite the list declining from 100 metros in May to 80 in June. Of the new entrants, NAHB lists Tuscaloosa, Ala., Grand Juntion, Colo., Fargo N.D., Knoxville, Tenn., and Dallas as notable. 

“The shifting of some markets off the IMI in June underscores the fragile nature of the housing recovery as well as the fact that many locations that previously made the list had recorded only marginal house price gains, which were easily wiped out by small downward changes,” noted NAHB Chief Economist David Crowe. “However, the fact that multiple new areas are showing up on the list each month is encouraging, and highlights the degree to which local economic and job market conditions are what drive individual housing markets.”

Market volatility and uncertainty are still factors, and fundamentals continue to improve, said First American Title Insurance vice chairman Kurt Pfotenhauer. 

View the full market index from NAHB.  

Written by Elizabeth Ecker

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