Nine cities in North and South Carolina made the list of housing markets showing measurable improvement in April. Compiled by the National Association of Home Builders and First American Improving Markets Index (IMI), April’s list included 101 metropolitan areas across the nation.
Seven North Carolina cities: Burlington, Charlotte, Goldsboro, Greensboro, Greenville, Rocky Mount and Winston-Salem made the list. Charleston and Spartanburg made the list for South Carolina.
The IMI identifies metro areas that show increases over a six month period for each of the respective lows related to employment, housing permits and house prices. The data is collected from the Bureau of Labor Statistics, the US Census Bureau and Freddie Mac. The list of 101 cities is up from the 99 listed in March, with 11 slipping from the list and 13 new ones being added.
“While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction,” said NAHB Chairman Barry Rutenberg. “A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations.”
The National Association of Home Builders is a trade organization of 140,000 plus members involved in multifamily construction, home building, subcontracting, remodeling, housing finance, property management, building product manufacturing, design and more. NAHB builder members are expected to be involved in 80 percent of new housing projects this year.