A record high of 291 metropolitan areas across the country now qualify as improving housing markets, according to a study conducted by the National Association of Home Builders (NAHB). The NAHB/First American Improving Markets Index (IMI) for September recorded a gain of 44 markets from August and marks the index’s highest level since it was initiated two years ago.
Just over 80 percent of the 361 metros tracked by the index are showing consistent growth in three key measures of housing market strength — prices, permits and employment. “While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographic areas,” said NAHB Chairman Rick Judson.
The improvement in these markets is good news for nurseries, who grow the material used in the landscaping of new homes and other developments.
In Oregon, the cities of Bend, Corvallis, Eugene, Medford, Portland and Salem all made the list. Permit growth was strongest in Corvallis at 16.3 percent, while Bend’s prices have increased a state high of 26.8 percent since February 2011. Corvallis and Portland are neck and neck in terms of housing employment growth at 7.4 and 7.3 percent, respectively.
For more information about the IMI, click here.
