The number of markets where home values are growing increased to 274 in the latest index from the National Association of Home Builders.
It is the seventh straight month of growth for the NAHB-First American Improving Markets Index. Fifteen metro areas have been added to the list since February.
"This is the second consecutive month in which every state is represented by at least one metro on the improving list," said NAHB Chairman Rick Judson, a builder from Charlotte, N.C. "The expanding housing recovery is energizing communities nationwide by generating jobs and local tax revenues — and it could be an even more potent force for economic growth if credit for building and buying homes was more readily available."
David Crowe, the association’s chief economist, said this recovery appears to be sustained.
"With just over 75 percent of the 361 metros covered by the IMI now seen as improving, the housing market is on considerably more solid footing than it was at this time last year," Crowe said. "While we expect this positive momentum to continue, it's important to understand that many markets are just beginning the recovery process, and that numerous issues — from credit availability to the rising cost of building materials and emerging lot shortages — are slowing the pace of that advancement."
Kurt Pfotenhauer, vice chairman of First American Title Insurance Co., said he expects the improvements will continue.
With the understanding that there are still a lot of uncertainties in the regulatory arena, it looks like we are finally seeing the beginning of what could be a broad and deep recover of the nation's housing market," Pfotenhauer said.
The full list of improving markets is available here.
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