Markets in 59 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index. This represents a year-over-year net gain of seven markets. The index’s nationwide score moved up slightly from .89 in the second quarter to .90, meaning that based on current permit, price and employment data, the nationwide average is running at 90 percent of normal economic and housing activity. Meanwhile, 66 percent of markets have shown an improvement year-over-year. “The markets are recovering at a slow, gradual pace,” said NAHB Chairman Kevin Kelly. “Continued job creation, economic growth and increasing consumer confidence should help spur pent-up demand for housing.” [Read this article]
Menu
