The housing markets in the United States have improved and expanded again in March 2013 according to the National Association of Home Builders and the First American Improving Markets Index (IMI), prepared by First American Title Insurance Company, for over six consecutive months in many major markets.
The Vice Chairman of First American Title Insurance Company, Kurt Pfotenhauer, noted:
“With the understanding that there are still a lot of uncertainties in the regulatory arena, it looks like we are finally seeing the beginning of what could be a broad and deep recovery of the nation’s housing market.”
First American Improving Markets Index researches and then identifies key metropolitan areas that have shown improvement from their previous lows in data from three key areas (not just housing prices): housing permits, employment, and house prices for at least six consecutive months.
[FYI, “The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau.”]
National Association of Home Builders (NAHB) regularly gathers the key housing data from various housing market sources to generate a list of improving housing markets in the United States. The NAHB reviews monthly the metro area data which must show improvement in all three key statistics noted above for at least six consecutive months following those measures’ respective previously being down before they can be included in the improving markets list.
Now is clearly the time to look at engaging again in the Buy-Fix-Flip, plus seriously and actively jump into the BUY-FIX-HOLD market.
Caution: Do Not over pay for the properties upfront!
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