Latest figures released by National Association of Home Builders give more cause for optimism

According to a new report issued by the National Association of Home Builders and the First American Improving Markets Index, there has been continued growth in a number of housing markets within the US.  The report states that 84 metro areas have seen a price growth, while there has also been an increase in the number of housing permits that have already been issued this month.  In June the index stated that only 80 regions were showing growth.

David Crowe, the chief economist with the National Association of Home Builders, said of the results:” The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy."

The news comes as a further boost to the housing market, which has been severely hit during the recession and follows the news announced last month by the National Association of Realtors that pending home sales during the month of May had risen to their highest level since 2010.  This report also detailed how every region across the country had experienced both annual and monthly gains.  Other reports have highlighted how the prices of real estate have stopped falling and, in many areas, have started to see gains.

All signs are starting to point towards a sustained recovery within the US housing market, which will only bode well for the wider economy as confidence in the real estate market spreads to consumers and employers. While the recovery is still fragile, it is moving in the right direction.