The recent report by the NAHB and First American shows that 29 metro areas have been added to the list of improving real estate markets. The list now totals 98 that have shown appreciable improvement in the past 6 months. The index is based on local employment and housing price, housing growth trends.
Among the new additions are Miami, Tampa, Boston, Detroit, Omaha, Salt Lake City and Kansas City. Many mid-sized cities such as Syracuse NY and Youngstown OH have also joined the list for the first time.
A few markets dropped off the list, once more demonstrating that this recovery is likely to be uneven. San Jose, DC, New Orleans and Jackson MS were in retreat, at least for the moment. In the case of DC, the change is likely due mostly to the unusually robust market over the past year that may not be sustainable for at least a time.
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