September sees more improving metro housing markets
Posted on Tuesday, September 11, 2012 at 6:20:42 PM
As the economy continues to improve, local real estate markets are showing marked improvements. According to the National Association of Home Builders/First American Improving Markets Index (IMI), the number of improving housing markets in the United States has increased to 99 in September 2012. During the month of August, only 80 metros were categorized as improving.
"The number of improving housing markets grew by 19 in September as 68 metros retained their spots, 31 new metros were added and just 12 dropped off the list," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB). "This solid growth is an encouraging sign that housing continues on a slow but steady recovery path that is gradually advancing from one local market to the next."
Metros classified as improving featured a strong uptick in housing prices, decreased inventory and fewer foreclosured houses. Potential homebuyers striving to purchase a strong property investment may want to consider shopping in metros that have a history of homes retaining their value. Residential financing from a qualified lender such as Home Loan Investment Bank could go a long way in those areas.