Leading Markets Index shows nationwide average running at 93 percent of normal activity
WASHINGTON — Markets in 79 of the approximately 360 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2015, according to the latest National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI). This represents a year-over-year net gain of 17 markets.
The index’s nationwide score edged up to .93, meaning that based on current permit, price, and employment data, the nationwide average is running at 93 percent of normal economic and housing activity. Meanwhile, 69 percent of markets have shown an improvement year-over-year.