List of Improving Housing Markets Reaches 100

chicago homebuilders optimistic about marketThe National Association of Home Builders recently released their October Improving Markets Index. Chicago home builders will be pleased to see that a total of 103 housing markets in the U.S. have made the list and this is the largest number of markets to rank on the index in a year.
The improving markets index is fairly new, having only been created about a year ago. The index tracks housing markets throughout the U.S. that are showing signs of better economic health. The three factors used to decide the index are employment growth, price appreciation and single-family housing permit growth. If a metro area improves in all three of these areas for at least six months, then it can be included on the list.
While Chicago is not yet on the list, Springfield, Ill. is ranked at No. 35. This is a good sign that the growth downstate could eventually trickle into the Chicago metro region.
For more information, please visit the National Association of Home Builders website.