Improving housing markets contributing to affordability

As the economy strengthens, real estate data shows that there are 99 improving housing markets across the country this month.

As the economy strengthens, real estate data shows that there are 99 improving housing markets across the country this month.

According to the National Association of Home Builder's Improving Markets Index, these 99 housing markets, spanning across 33 states, have shown six consecutive months of gains in housing permits, employment and property values.     

"After five consecutive months of solid gains, the March IMI held virtually flat this month at just under 100 metros, while showing a significant amount of transition in terms of markets represented on the list," said NAHB chief economist David Crowe. "This is consistent with NAHB's projections for a gradual but patchy recovery in which some month-to-month softening is likely, particularly in places where the measurable gains have been very small."

Some notable additions to the list of improving housing markets were Austin, San Antonio and Washington, D.C.

Improving economic conditions in a number of housing markets are contributing to the overall rise in housing affordability seen all over the country. According to the National Association of Realtors, housing affordability reached a record high index of 206.1 in January, as the rift between median home prices and household incomes grew closer.



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