This means us!

Smaller Housing Markets Nearing ‘Normal’ Faster

Daily Real Estate News | Friday, December 06, 2013 | link

The nationwide housing market is inching closer to “normal” levels and is operating at 85 percent of normal economic and housing activity, according to the the National Association of Home Builders/First American Leading Markets Index.

Nearly 16 percent – or 55 out of 350 metro areas – already have returned to or exceeded their last normal levels of housing and economic activity, according to the November index reading.

The LMI evaluates 350 metro areas to gauge how close the markets are to approaching or exceeding their previous normal levels of economic and housing activity. The index factors in average permits, home prices, and employment levels for the past 12 months.

“This index shows that most housing markets across the nation are continuing a slow, gradual climb back to normal levels,” says NAHB Chairman Rick Judson.

Smaller metros accounted for the majority of markets that are at or above normal levels, says David Crowe, NAHB’s chief economist.

Read more…

Author: kimhuntkw

We specialize in Real Estate in the Pleasanton, Dublin and Livermore areas of the East Bay in California

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s