Housing Market Continues to Recover at Modest Pace
The housing market is continuing its recovery. A recent article published by the National Association of Home Builders (NAHB) and First American Leading Markets Index (LMI) shared the results of their study of approximately 340 different metro areas. Real estate economy experts studied the performance of these housing markets over the fourth quarter of 2015.
Compared to the last quarter of 2014, a year-over-year gain was shown in 90 percent of those markets. In addition, they assessed the nation’s overall score at 94 percent of what is considered normal economic and housing activity based on the permit, price and employment data in the residential construction industry.
QuickDraw Fund Control can attest to some of this growth as we’ve taken the lead on fund control for more residential housing projects in the past year. There exists a high level of building and remodeling activity, which is a sign of continued strength in 2016.
The research from LMI shows that house prices continue to rise. Three hundred twenty two of the markets studied have returned or exceeded their normal levels. Seventy six of these markets also show improvements in employment numbers, as well
The leading scorer of major metro areas is Baton Rouge, LA, but two markets in our home state made the top ten. Los Angeles and San Jose both showed great signs of growth and recovery.
It is great to see the housing market continuing to move in the right direction with this report by the National Association of Home Builders and First American Leading Markets Index. At QuickDraw Fund Control, we are certainly excited to see where the recovering economy is heading.
To read the full article, visit the NAHB site.