Tag Archive for metros

Local Markets Return To Normal Nationwide

April 9, 2014 Housing Market Comments Off on Local Markets Return To Normal Nationwide

The National Association of Home Builders Leading Markets Index measures the number of metropolitan housing markets nationwide that have returned to or exceeded their last normal levels of economic and housing activity based on current permit, price, and employment data. According to the most recent release, the overall housing market is now running at 88 percent of normal activity, with 83 percent of local markets having improved over the past year. In fact, just since last month’s report, nearly 28 percent of metro areas saw their score rise. Kevin Kelly, NAHB’s chairman, said things are getting better overall and, with the housing market now entering the spring buying season, the fact that the nation’s economy is headed in the right direction is a very promising sign. Though the improved markets are dominated by smaller metros in the middle of the country experiencing growth due to an energy boom, regions outside of the energy states are starting to post gains as well, with areas like Los Angeles and San Jose joining the list of major metros showing a recovery. David Crowe, NAHB’s chief economist, said 2014 should be a strong year for housing and the overall economic rebound. More here.

Price Gains Cool Down In Hottest Markets

December 6, 2013 Housing Market Comments Off on Price Gains Cool Down In Hottest Markets

Trulia’s Price Monitor gauges home price trends based on asking prices, which means the Monitor is among the earliest indicators of where home values are headed mostly due to the fact that asking prices lead sales prices by approximately two months. In November, asking prices were up 1 percent month-over-month and 3 percent quarter-over-quarter. Prices are now 12.1 percent above last year and have risen in all but two of the largest metros over the past 12 months. Despite the increases, however, home price gains are beginning to slow after spiking earlier this year. The slowdown is most pronounced in metropolitan areas that experienced the largest price increases in the first half of 2013. On the other hand, in the 56 markets where prices rose by less than 10 percent year-over-year, price gains actually accelerated in the most recent quarter. More here.

Number of Improving Housing Markets Hits Record High

September 14, 2013 Uncategorized Comments Off on Number of Improving Housing Markets Hits Record High

The number of improving housing markets across the country has reached a record high, according to the National Association of Home Builders’ Improving Markets Index. The index determines improvement based on each metropolitan areas’ low point in housing permits, employment, and house prices. They are added to the index after showing six consecutive months of improvement in all three categories. September’s results found 291 metro areas that qualified as improving housing markets, up 44 from August. Rick Judson, NAHB’s chairman, said over 80 percent of the 361 metros tracked by the index are showing consistent growth, which is an excellent indicator of how the housing recovery has begun to take hold across the country. More here.