Beginning Sept. 7, the National Association of Home Builders (NAHB) will unveil a new monthly economic indicator – the NAHB Improving Markets Index (IMI) – designed to track housing markets throughout the country that are showing signs of improving economic health. The new indicator will measure three sets of independent monthly data to get a marker on the top improving Metropolitan Statistical Areas. The three indicators that will be analyzed are employment growth numbers from the Bureau of Labor Statistics (BLS), house price growth data from Freddie Mac, and single-family housing permit growth data from the U.S. Census Bureau. A metro area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list. [Read this article]
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