There were 101 housing markets showing measurable improvement at the start of April 2012, a slight expansion from March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today.
"While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction," said NAHB Chairman Barry Rutenberg. "A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations."
The index includes metropolitan areas that have shown improvement from their respective troughs in housing permits, employment, and house prices for at least six consecutive months. April saw a net gain of two from March, with 13 metros added and 11 markets slipping from the list, while 88 markets retained their places on it. Among the new entrants are: Rome, GA; Coeur d'Alene, ID; Greenville, NC; Brownsville, TX; St. George, UT; and Huntington, WV.
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