The Latest Home Equity Mortgage Refinance News

More housing markets showing improvement

More housing markets showing improvement

New areas added to improving list in March

The list of housing markets that are considered “improving” rose again in March, the National Association of Home Builders (NAHB) said in a recent report.

According to the NAHB/First American Improving Markets Index (IMI) the number of U.S. metropolitan areas across the U.S. that are considered to have improving housing markets expanded by 15 to reach 274 metropolitan areas.

The list of improving metro areas now includes areas from each of the 50 U.S. states and the District of Columbia.

“This is the second consecutive month in which every state is represented by at least one metro on the improving list,” Rick Judson, NAHB Chairman, said in a statement. “The expanding housing recovery is energizing communities nationwide by generating jobs and local tax revenues — and it could be an even more potent force for economic growth if credit for building and buying homes was more readily available.”

In March, 34 new metro areas popped up on the list, while 19 fell off the list. The net result is a gain of 14 metropolitan areas.

“With just over 75 percent of the 361 metros covered by the IMI now seen as improving, the housing market is on considerably more solid footing than it was at this time last year,” David Crowe, NAHB Chief Economist, said in a statement.

Among the list of new members of the “improving” list were Birmingham, AL; Santa Barbara, CA; Colorado Springs, C); and Bloomington, IN, the NAR noted.

Crowe continued: “While we expect this positive momentum to continue, it’s important to understand that many markets are just beginning the recovery process, and that numerous issues – from credit availability to the rising cost of building materials and emerging lot shortages – are slowing the pace of that advancement.”

Posted in: Home Equity, Mortgage, Refinance

Free Credit Scores

Mortgage Tips

Credit card issuers getting finicky?

With so many changes in the credit card industry this year - and more to come in the next 6 months - some people are finding it more difficult to get approved for a new credit card. Read more

Mortgage FAQs

Mortgage Calculators

Refinance Breakeven Calculator
Refinance Breakeven Calculator

Determine how long will it take to break even if you refinance your mortgage. Is refinancing a sound financial decision?

you are here ›› homenews › home equity
Personal Finance News - Home Equity