59 Metros Back To Normal

Dated: 03/10/2014

Views: 683

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

2018 Spring Parade Of Home Info

2018 Boise Spring Parade of Homes is here!  What: Local builders showoff the latest in design and new construction technology.  Enjoy over a dozen gorgeous homes ready for your

Read More

CPR Credit Repair Idaho Shar Helton Chatting Credit Repair

CPR Credit Repair Idaho - Shar Helton Chatting Credit Repair!Hey guys!  Here we discuss another great and very important topic, Credit Repair. Shar Helton, Credit Expert with CPR- Credit

Read More

Great Meridian Location Close To Everything 1387 White Sands Meridian MLS 9868864

Great Meridian location close to everything!1387 White Sands, Meridian – MLS #9868864Great Meridian location close to shopping, schools, and the outdoors. This home has brand new carpet (w

Read More

Dont Miss This Fully Remodeled North End Beauty 812 N 17th St Boise MLS 98686638

Don’t Miss This Fully Remodeled North End Beauty!812 N 17th St, Boise - MLS #98686638Don’t miss this Gorgeous Remodel in one of Boise’s most desirable areas.  FULL Home Remodel

Read More