Housing Recovery Continues at Modest Pace

Markets in 162 of the approximately 340 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2016, according to the recently released National Association of Home Builders/First American Leading Markets Index (LMI). This represents a year-over-year net gain of 73 markets.

The index’s nationwide score ticked up to .98, meaning that based on current permit, price and employment data, the nationwide average is running at 98 percent of normal economic and housing activity. Meanwhile, 91% of markets have shown an improvement year over year.

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