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Michael Patterson

Michael Patterson,
Branch Manager
Mortgage Consultant

Phone: 206-423-4000
Fax: 206-984-2634
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www.landhomenw.com
WA MLO/NMLS #69386

22525 SE 64th Place
Suite 220
Issaquah, WA 98027

 

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Real Estate Outlook: Improving Markets
By Carla Hill

The latest National Association of Home Builders/First American Improving Markets Index (IMI) numbers show that a total of thirty-five states are now represented.

In order to be considered an improving market these metro areas must have shown improvement in housing permits, employment, and home prices for the last six months straight. This data is comprised from reports employment growth reports from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau.

"While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction," said NAHB Chairman Barry Rutenberg. "A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations."

Each month new markets have been joining this list, while some previously "improving" markets have slipped from their ranking.

The newest entrants this month included 13 new metro areas. Some of these new to the list areas are Rome, Ga.; Coeur d'Alene, Idaho; Greenville, N.C.; Brownsville, Texas; St. George, Utah; and Huntington, W.Va..

What do these latest rankings tell us about housing across the nation? We are currently entering the Spring selling season, a typically robust time of year for real estate. "The fact that the number and geographic distribution of improving housing markets continued to expand beyond the 100 mark in April bodes well for the start of the spring home buying season, and should be an encouraging sign for those who are considering a home purchase," added Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

Additionally, there appears to be a stabilizing in many markets, with the Index beginning to plateau. "After five consecutive months of gains, the IMI recently began to plateau, with many markets holding steady and a few experiencing the ups-and-downs that are typical in a choppy recovery," observed NAHB Chief Economist David Crowe. "The IMI is designed to highlight markets that are showing consistent improvement, and those markets that have registered the smallest gains are more susceptible to dropping off the list due to a minor setback in prices, permits or employment," he explained. At the same time, "as stronger markets approach stability, it will get harder for them to keep charting improvement, which will also limit the expansion of the IMI."

©2012 RealtyTime.

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Equal Housing Opportunity Lender. Not a commitment to lend. The accuracy of all information, regardless of source, is not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Land Home only conducts business in states we are approved to. Land Home Financial Services 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan Branch License #CL-89331. NMLS #89331. Date: 4-16-12 Opt Out
 

REAL ESTATE OUTLOOK REPORTS:

Land Home Financial - Real Estate Outlook 10/31/11 - Changes to HARP

Land Home Financial - Real Estate Outlook 10/24/11

Land Home Financial - Real Estate Outlook 10/10/11

Land Home Financial - Real Estate Outlook 10/03/11

Land Home Financial - Real Estate Outlook 09/26/11

Land Home Financial - Real Estate Outlook 09/19/11

Land Home Financial - Real Estate Outlook 09/12/11

Land Home Financial - Real Estate Outlook 09/06/11

Land Home Financial - Real Estate Outlook 08/29/11

Land Home Financial - Real Estate Outlook 08/22/11


ECONOMIC OUTLOOK REPORTS:

Land Home Financial - Economic Outlook 10/31/11

Land Home Financial - Economic Outlook 10/24/11

Land Home Financial - Economic Outlook 10/10/11

Land Home Financial - Economic Outlook 10/03/11

Land Home Financial - Economic Outlook 09/26/11 - "Operation Twist"

Land Home Financial - Economic Outlook 09/19/11

Land Home Financial - Economic Outlook 09/12/11

Land Home Financial - Economic Outlook 09/06/11

 

MORTGAGE OUTLOOK REPORTS:

Land Home Financial - Mortgage Outlook 10/31/11

Land Home Financial - Mortgage Outlook 10/24/11

Land Home Financial - Mortgage Outlook 10/10/11 (Market Closed - no report)

Land Home Financial - Mortgage Outlook 10/03/11

Land Home Financial - Mortgage Outlook 09/26/11

Land Home Financial - Mortgage Outlook 09/06/11

Land Home Financial - Mortgage Outlook 08/29/11

Land Home Financial - Mortgage Outlook 08/22/11

Land Home Financial Services, Inc. (also known as "Land Home" or "Land Home Financial") is an Equal Housing Opportunity Lender. Call your loan officer for details. Rates, Program, Fees, and Guidelines are subject to change without notice. Restrictions apply. Not a commitment to lend. The information, loan option scenarios, and/or guidelines are for illustrative/marketing purposes only and will vary depending on circumstances, terms may not apply to every situation. Land Home only conducts business in states we are approved to. Land Home Financial Services, Inc. 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan Branch Office License #CL-89331. Corp. NMLS #1796. www.nmlsconsumeraccess.org. This site is not authorized by the New York State Department of Financial Services.  No mortgage loan applications for properties in the state of New York will be accepted through this site.