The National Association of Home Builders (NAHB) says its First American Improving Markets Index (IMI) rose from 201 in Dec. to 242 this month, an increase of over 20 percent. Now including 48 states and the District of Columbia, before being added to the list the metro area must show improvements for six consecutive months in employment, house prices, and housing starts. As MHProNews has learned, 47 new metropolitan areas were added to the list this month and six were dropped. Says NAHB Chief Economist David Crowe, “The IMI has almost doubled in the past two months as stronger demand during prime home buying season boosted prices across a broader number of metropolitan areas. Similar home price gains, and hence the IMI, may be tempered in the future as we see data from typically slower months for home sales.”
