Many housing markets in U.S. improving
Posted on Monday, July 8, 2013 at 4:25:10 PM
The National Association of Home Builders/First American has released the list of improving housing markets for July. A total of 225 metropolitan areas, and Washington D.C., have been classified as growing, spanning 49 states.
NAHB's monthly list shows that there are nearly triple the number of improving markets compared to July 2012, although the numbers have declined from the 263 metros that made up June's list. Residential financing has helped many home buyers afford the growing number of homes for sale, in nearly every state across the country.
The factors that allow cities to be included on the list are housing market growth and improvements in home price and employment.
"This is the sixth straight month in which at least 70 percent of all U.S. metros have qualified for the Improving Markets Index," said Rick Judson, NAHB chairman. "The relative stability of the IMI is representative of the broad recovery underway, which is much more extensive than what we were looking at one year ago."
The NAHB provides many services to anyone interested in home improvement, construction, or residential financing. According to The Associated Press, the NAHB consults with seniors in order to improve their homes, through the Aging in Place program. The association also can help homeowners on a variety of other topics.