MBS RECAP: 9/7/2011

Today the National Association of Home Builders (NAHB) released its first NAHB/First American Improving Markets Index (IMI), a new economic index revealing metropolitan areas that have shown improvement for at least six months in three key economic areas—housing permits, employment and housing prices.

The list of metropolitan areas includes:
-Alexandria, LA
-Anchorage, AK
-Bangor, ME
-Bismarck, ND
-Casper, WY
-Fairbanks, AK
-Fayetteville, NC
-Houma, LA
-Midland, TX
-New Orleans, LA
-Pittsburgh, PA
-Waco, TX

“Despite the challenging conditions in the national economy and housing sector, there are areas throughout the country where we are seeing pockets of improvement” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “Housing conditions are local, and do not always reflect the national picture. We created this new index to shine a light on those housing markets across the country that have stabilized and have begun to show signs of recovery.”

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/227913.aspx

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