Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.93%0.00
Economics

Number of improved housing markets rises for February

The list of housing markets showing measurable improvement grew by 29 in February, bringing the total to 98 entries on the National Association of Home Builders/First American Improving Markets Index, released Monday.

“The number of improving housing markets has risen for six consecutive months, and 36 states now have at least one metropolitan area on the list,” noted NAHB Chairman Bob Nielsen, a homebuilder from Reno, Nev.

Nielsen said “despite the many challenges that continue to drag on a housing recovery,” the numbers are an indication that improving conditions are “slowly but surely” spreading from housing market to housing market.

David Crowe, NAHB chief economist, said while many of the housing markets on the most recent IMI are “far fom fully recovered,” employment, home prices and housing production are no longer retreating and “have held above their lowest recession troughs for six months or more.” 

“This is a sign that a large cross section of the country is starting to turn the corner as local economic conditions stabilize,” he said.

The increase in February follows a massive jump in January, in which housing markets showing measurable improvement nearly doubled with the addition of 40 new metropolitan areas to the index, coming to a total of 76 improving markets – up from 41 in December.

Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, said that the subsequent jump in February “shows that the momentum is building for a housing recovery and that more buyers and sellers are starting to feel confident enough to return to the market.”  

jhuseman@housingwire.com

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please