Great News In The Housing Market

According to the National Association of Home Builders (NAHB) single-family housing production rose 3.2 percent in May. This is the third month in a row that builders across the country have applied for more housing permits for single-family and multi-family homes as documented in statistics from HUD and the U.S. Census Bureau. With 516,000 new starts, this is the strongest pace since December of 2011. What this means is buyer demand is up, and builders are moving toward adding to their current inventory. Individual housing markets around the country are increasing progress toward recovery. According to experts at NAHB, this is an indicator that there will be a gradual steady growth through the end of the year in the housing industry. According to the NAHB three out of four regions posted gains in combined permit activity in May. As noted in the NAHB First American Improving Market Index (IMI) for June, 80 Metropolitan housing markets are showing sustained measurable growth. These metro areas represent 31 states including Washington DC. This index measures both improvements in housing permits as well as employment and housing prices and deals with data over a minimum of a six-month time frame. While some areas dropped off the index for improving markets from May, 28 new markets made the index. Though there is still shifting amongst the real estate market due to the volatile nature of the economy, the foundation of real estate is improving across most regions of the United States. With interest rates at all time lows there truly has never been a better time to buy. For more information see the full articles at NAHB.com Single-Family Housing Starts Rise 3.2 % in May and 80 Metros Listed as Improving Housing Markets in June