The National Association of Home Builders’ Leading Markets Index is a measure of the housing market’s health that looks at housing and economic activity in 350 metropolitan areas across the country. The Index scores each area based on their average permit, price, and employment levels for the past year divided by their annual average over the last period of normal growth. According to this gauge, 59 of the 350 included metros have returned to or exceeded their last normal level of economic and housing activity. Kevin Kelly, NAHB’s chairman, said markets are returning to normal levels despite the cold weather that has constrained market activity this winter. According to Kelly, this bodes well for the remainder of 2014, as the job and housing markets continue to mend and warmer weather helps boost home sales activity. With this latest release, the number of markets operating at or above 90 percent of previous norms has climbed to 130. More here.