Ninety-eight housing markets make list of expanding markets

The National Association of Home Builders recently released its First American Improving Markets Index, showing that 36 states are now represented by at least one market and the list of improving housing markets increased to nearly 100.

The index chooses markets that have shown improvement in housing permits, employment and house prices for at least six consecutive months. New notable entrants on the list in February include Miami, Florida; Boston; Detroit; Kansas City, Missouri; Portland, Oregon; Memphis, Tennessee; and Salt Lake City.

"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 home builder from Reno, Nevada. "This indicates that despite the many challenges that continue to drag on a housing recovery - including the tight lending environment for builders and buyers - improving conditions are slowly but surely spreading from one housing market to the next."

Seven markets dropped from the list in February after experiencing softening house prices, which affected the average relocation cost of purchasing a new home.

Clear Capital recently released its Home Data Index Market Report, showing that year-over-year home prices for the U.S. decreased 2.6 percent through January.

More News