Tuesday, November 6, 2012

Again: Boulder, Ft. Collins and Greeley on "Improving Markets" index


For the fourth month in a row, Three Colorado metro areas remained on the National Association of Home Builders' Improving Markets Index (IMI) for data up through August. The metro-specific data

Permits Growth Prices Growth Employment Growth
Trough From Trough From Trough From
 MSA  Date Trough Date Trough Date Trough
Boulder, CO 11/30/09 12.6% 01/31/11 6.4% 03/31/10 6.6%
Fort Collins, CO 03/31/09 6.0% 12/31/10 9.7% 09/30/09 5.9%
Greeley, CO 01/31/09 3.1% 02/28/11 13.8% 12/31/09 8.9%


According to the NAHB press release: 

WASHINGTON, Nov. 6 - The number of U.S. housing markets showing consistent improvement in three key measures of strength expanded by 22 in November to a total of 125, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today.  This marks a third consecutive monthly gain for the index, which now includes representatives from across 38 states as well as the District of Columbia.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Markets added to the list in November include such geographically diverse locations as San Diego, Calif.; Gainesville, Fla.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C.
"Not only did 22 additional markets qualify for the improving list in November, but the geographic distribution of included metros expanded from 33 states to 38 (plus the District of Columbia), while 97 out of 103 markets retained their spots on the list from the previous month," observed Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "This shows that a housing recovery is firmly taking root and helping generate needed jobs and economic growth across much of the country -- though we know that this expansion could be even stronger were it not for ongoing challenges including overly tight lending conditions and difficult appraisals."