The number of improved real estate markets has grown since the National Association of Home Builders started their tracking index. Pent up housing demand, consumer confidence, and low mortgage rates seem to be driving more real estate sales.
The NAHB 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. While 83 metros held onto their previous places, and 17 new ones were added to the list in May.
100 markets in 34 states represented on the improved housing market list shows that real estate is local, and that national statistics often don’t apply to a specific metropolitan area. Some of the factors still weighing down real estate sales continues to be qualifying for mortgage loans, and the difficulty of obtaining value on appraisals.
The NAHB 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. While 83 metros held onto their previous places, and 17 new ones were added to the list in May.
100 markets in 34 states represented on the improved housing market list shows that real estate is local, and that national statistics often don’t apply to a specific metropolitan area. Some of the factors still weighing down real estate sales continues to be qualifying for mortgage loans, and the difficulty of obtaining value on appraisals.