Improving Markets List Includes 247 Metros in August

A total of 247 metropolitan areas across 49 states and the District of Columbia qualified for inclusion on the National Association of Home Builders/First American Improving Markets Index (IMI) for August, released recently. While this is eight metros shy of the number listed on the IMI in July, it is approximately three times the number of metros that qualified for the list in August of 2012.

The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Three new markets were added to the list and 11 dropped from it in August. Newly added metros this month include Kankakee, Ill., along with Atlantic City and Ocean City, N.J.