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Real Estate News

New Index Shows Housing Markets Back to Normal in 52 Metros

Eye on Housing

Housing markets in 52 out of the approximately 350 metro areas nationwide have now returned to or exceeded their pre-recessionary levels of activity, according to the new National Association of Home Builders/First American Leading Markets Index (LMI).

The index’s nationwide score of .85 indicates that, based on permits, prices and employment data, the nationwide housing market is running at 85 percent of normal activity.

LMI 102013

Baton Rouge, La., tops the list of major metros on the LMI, with a score of 1.41 – or 41 percent better than its last normal market level. Other major metros at the top of the list include Honolulu, Oklahoma City, Austin and Houston, Texas, as well as Harrisburg, Pa. – all of whose LMI scores indicate that their housing markets now exceed previous norms.

Looking at smaller metros, both Odessa and Midland, Texas, boast LMI scores of 2.0 or better, meaning that their housing markets…

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About PhilJawny

Award winning mortgage banker with over 14 years of experience.

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