Categories: Home Ownership, Market Data | Posted: February 9, 2012
According to the National Association of Home Builders/First American Improving Markets Index (IMI) released on February 6, 2012 – 98 housing markets representing 36 states are showing measurable improvements.
This index measures increases in housing permits, employment, and price improvements as identified in metropolitan areas for a minimum of six consecutive months. Some of the previously hardest hit markets are showing signs of recovery as they come off their lows. New entrants for February include Miami, Fla; Boston; Detroit; Kansas City, Mo.; Portland, Ore.; Memphis, Tenn.; and Salt Lake City.
What does this mean for wood-be homebuyers? You will start seeing pricing stabilize in many housing markets across the United States. If you’ve been on the fence about purchasing a new home, it’s a good time to buy. Interest rates continue to be favorable for those who can qualify for loans. If you need tips on improving your credit rating to qualify for a new home check out our article on Credit Repair.
According to NAHB Chief Economist David Crowe, “This is a sign that a large cross section of the country is starting to turn the corner as local economic conditions stabilize.”
For a complete list of all 98 recovering markets listed on the IMI visit www.nahb.org/imi. And for more details and the complete article from NAHB Visit the National Association For Home Builders for this and other valuable information.
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