Dive summary:
- The count of metropolitan areas meeting the standards for the National Association of Home Builders/First American Improving Markets Index (IMI) this month came in at 255, which is a little behind May's 258 and June's 263, but is more than triple where things stood a year ago.
- The IMI counts metros in which housing permits, employment and house prices have each been improving from their low points for six consecutive months.
- Because a change in any of the three could spoil the string, areas come onto and drop off the list each month, but the total has been growing strongly in year-over-year comparisons, which is taken as a good sign for the market.
From the article:
Newcomers include Cumberland, Md.; Saginaw, Mich.; Farmington and Las Cruces, N.M.; Kingston, N.Y.; and Olympia, Wash. ...