Nearly a third of the 23 housing markets listed on the October National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) are in Texas.
The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. Texas markets making the list were Amarillo, McAllen, Midland, Odessa, Sherman, Waco and Wichita Falls.
“While Pittsburgh and New Orleans remain the two largest improving markets, the October IMI is heavily weighted by smaller cities in which energy and agriculture are the primary economic drivers and where the effects of the recession have been less pronounced,” said NAHB Chief Economist David Crowe. “In particular, Texas stands out for its seven entries on the improving markets list.”
Last month, only 12 housing markets nationally were listed in the index.
Source: NAHB
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