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The National Association of Home Builders’ Improving Markets Index held steady at 100 in May, down from 101 in April. The number of represented states was also virtually unchanged from the month before at 35. The Index determines improving housing markets based on metropolitan areas that have had at least six consecutive months of improved housing permits, employment, and home prices. In May, 17 new metros were added to the list, while 83 cities carried over from April. Barry Rutenberg, NAHB’s Chairman, said the fact that there are 100 markets across 35 states that are improving illustrates that the health of the housing market is determined by individual metropolitan areas more than national data. More here.
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