59 Metros Back To Normal

Dated: 03/10/2014

Views: 691

DAILY REAL ESTATE NEWS | SUNDAY, MARCH 09, 2014
Out of 350 metros evaluated across the country, 59 housing markets have returned to or have exceeded their last normal level of economic and housing activity, according to the latest National Association of Home Builders/First American Leading Markets Index.

Overall, markets nationwide are running at about 87 percent of their normal economic and housing activity. The index evaluates metro areas to see if they’re approaching or exceeding their previous normal levels of economic and housing activity. The index factors in average single-family permits, home prices, and employment levels for the past 12 months and then compares that to the market’s historical levels.

Topping the list of major metros on the Leading Markets Index is Baton Rouge, La., which is performing 41 percent better than its last normal market level. Other top performing markets are Honolulu, Oklahoma City, Austin and Houston, Texas, and Harrisburg and Pittsburgh, Pa. All of those markets are experiencing economic and housing activity that exceeds their previous norms.

Looking at the smaller metros, Odessa, Texas, and Midland, Texas, have seen economic and housing activity double when compared to activity prior to the recession. Other smaller metros that are also performing strong: Casper, Wy.; Bismarck, N.D.; and Grand Forks, N.D.

"The strong energy sector is at the forefront of the recovery and centered in many small and mid-sized markets in Texas, Louisiana, North Dakota and Wyoming," says NAHB Chief Economist David Crowe. "In fact, these four states account for eight of the top 10 markets on the LMI and 45 percent of the markets that are at or above normal."

Source: National Association of Home Builders

Blog author image

Phil Mount

Phil Mount is an agent at Front Street Brokers in Boise, Idaho. Phil became a licensed REALTOR in August 2009 after a 25 year career as a technology marketing professional. In his first year as an a....

Want to Advertise on this Site?

Latest Blog Posts

Just Listed 2478 Penny Royal Boise Id

https://my.matterport.com/models/An6FnuRAXHF?section=media&mediasection=showcaseTake a tour of this wonder large family home in the above like.  We at Front Street Brokers offer this 3d tour of

Read More

Rare Eagle Home On 18 Acres With Pool And Huge Shop 2074 W Pacific Ridge Dr MLS 98694485

Rare Eagle Home on 1.8 Acres, with Pool, and Huge Shop!2074 W Pacific Ridge Dr – MLS #98694485 Are you looking for the rare and hard to find home close to town, in a great established,

Read More

Open House In Hewett Park Sub Boise Idaho Saturday June 2nd

Open House in Hewett Park Boise Idaho Saturday June 2nd.  B-E-A-utiful, spacious and she'll be available this Saturday, June 2nd for your viewing pleasure! This Boise home has been well taken

Read More

How To Sell Your Idaho Home

http://casasdeidaho.valuedagent.com/purl/sellersI help sellers determine a plan for selling their home. What is the motivation behind the sale of their home and what is their next step? Once we

Read More