The monthly index identifies metro areas that have seen housing permits, employment, and housing prices rise for at least six consecutive months.
Seventy-three metro areas from June’s list remained on the July “Improving Housing Market” list while 11 new markets were added this month. Some of the markets added that NAHB highlighted in a press release included Prescott, Ariz.; Springfield, Mass.; St. Cloud, Minn.; and Houston.
“The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy,” says NAHB Chief Economist David Crowe. “This is evidence that the housing recovery is slowly but surely taking root, one market at a time.”
To view a complete list of the 84 metro areas on the July “Improving Housing Market,” visit www.nahb.org/imi.