Louisville continues to appear on the NAHB/First American Improving Market Index (IMI). The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months.
Locally as of this month, our metro area has seen home prices appreciate 4.7% since the trough of December 31, 2011 and employment has grown 6.8% since February of 2010. Permits are reported to be up 3.1% from the trough of July 31, 2011, according to IMI statistics released on April 4, 2013. Metro Louisville has been on the IMI now for six consecutive months, and had previously appeared on the list in early 2012.
There are currently 273 metro area included on the IMI and all 50 states and the District of Columbia are now represented. “With 75 percent of the country seeing measurable improvement in housing market conditions, the outlook is definitely brightening for local economies this spring,” noted Kut Pfotenhauer, vice chairmen of First American Title Insurance Company.
Locally our housing market is a definite contributing factor to our brightened economy. Now is a great time to buy and build new in Louisville. Search for a Registered Builder to help you build new today.