News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
David Crowe / September 9, 2013
The NAHB/First American Improving Markets Index (IMI) reached a new high of 291 in September. The addition of 49 markets was also the largest number new to the list since December 2012 when 84 markets were added. Five markets were dropped, four because of a fall back in prices and one because of a dip in permits.
The large increase in new markets on the list can be attributed to several changes. First, the house price index used for each metropolitan area is calculated by Freddie Mac. After some additional study, the Freddie Mac economist improved the accuracy of their index and the change in methodologyRead More
David Crowe / NAHB / July 8, 2013
The July NAHB/First American Improving Markets Index dropped slightly to 255 from 263 in June as 14 metropolitan areas were dropped from the list and six were added. The number of markets that are improving remains at over 70 percent of all metropolitan areas with sufficient data (361). The majority of the dropped metro areas had weak house price growth as of the June report and those prices fell back below the previous low for the July report. In June their reported average price growth was less than 1 percent while the metros that remained on the list have an average house price growth of 6.6 percent.Read More
David Crowe / NAHB / June 6, 2013
The number of markets that continue to show improvement increased to 263 or 73 percent of all markets measured. The June NAHB/First American Improving Markets Index counts the number of metropolitan areas that have seen at least six months of improvement in single-family housing permits, house prices and employment. The index is up 5 from May which had dropped 15 markets from April, the first significant drop since the same time last year.
The net change of five was the result of 29 additions and 24 dropped. As the index and list of markets satisfying the criteria reaches three-quarters of allRead More
David Crowe / NAHB / May 6, 2013
The NAHB/First American Improving Markets Index fell by 15 to 258 metropolitan areas in May. The decline was due to 19 areas falling off the index while four were added. The primary cause for leaving the list was softness in house prices. The 15 metropolitan areas that were dropped from the list because of a fall in house prices had an average price increase in April (the last month on the list) of 1.6 percent while the markets that remained on the list had average house prices increases of 6.7 percent.
The 258 metropolitan areas on the list represent over 70 percent of all metros and every state has atRead More
David Crowe / NAHB / February 6, 2013
The number of improving housing markets expanded for a sixth consecutive month to a total of 259 metropolitan areas on the National Association of Home Builders/First American Improving Markets Index (IMI). This total is up from 242 markets listed as improving in January.
Notably, the IMI list now contains markets from all 50 states, suggesting that the housing recovery has substantial momentum.
The IMI identifies metro areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. A total of 20 newRead More