The number of improving US housing markets took a dramatic leap up to a total of 201 metros in December, according to the National Association of Home Builders'First American Improving Markets Index (IMI).
In the course of only a year, the number of improving markets according to the IMI has surged from about 40 last December to about 200 this December... a huge improvement and an important indicator that the US housing market is recovering and stabilizing.
The IMI measures improvement in three areas: housing permits, employment and house prices. To earn a place on the list of improving housing markets a metropolitan area must have shown improvement from their respective troughs in all three measures for at least six consecutive months.
Over half of all metro areas are now represented on the list, and improvement in all three areas for at least six consecutive months is a significant indicator of improving housing market health.
According to the December IMI the Twin Cities ranks #137 in housing permit growth, #106 in employment growth and #9 in house price growth.
Sharlene Hensrud, RE/MAX Results - Email - Twin Cities Real Estate Market