Property data from the National Association of Home Builders showed the level of improving housing markets rose for the third month in a row during November.
The increase helped the Improving Markets Index to reach 125 metropolitan statistical areas, which was 22 more than the previous month. Nearly 40 states had housing markets on the list, while Washington, D.C., was also featured. In order for a market to make the list, there needs to be six months in a row where permits, home prices and jobs rise.
"The solid increase in the number of improving housing markets this month illustrates the degree to which the housing recovery has gained momentum since we initiated the IMI last year," said David Crowe, chief economist for the NAHB. "Compared to the 30 markets that made the list as of November 2011, we now have 125, which is about one-third of all the markets surveyed for this index."
Multiple industry reports showed improvements in real estate records across the country. According to the Department of Housing and Urban Development's Housing Scorecard for the month of September, homeowner equity rose to the highest point in four years.