There have been signs of improvement in the housing markets in key different Florida cities and other cities in the country as reported by the National Association of Home Improving Markets Index for the month of June.
This is an indication of other industry reports proving that the different housing markets in the country are slowly recovering from the economic crisis. Around 80 metropolitan areas throughout the US have shown signs of improvement as reported by the housing index focusing for the month of June especially in the state of Florida.
As the NAHB/First American Improving Markets Index (IMI) was down for the month of June to 100 markets, there were 28 new and one representative city that came from a total of 31 states.
The six housing markets that showed signs of improvement in Florida are Cape Coral, Deltona, Orlando, North Port, Punta Gorda and Pensacola. These six cities showed signs of increase in areas of housing permits, employment and home prices for the first six months of the year.
In Cape Coral, the housing permits grew to 4.2% and home prices went up to 4.6%. In Pensacola, home prices were up by 0.9% and in Orlando, prices of homes where up by 3.9%.
Other cities that were included in the list of improving housing sectors are the cities of Tuscaloosa, Alabama; Grand Junction, Colorado; and Knoxville, Tennessee.
Though there are signs of improvements in the housing markets of the cities that are mentioned. Every industry experts all agree and believe that the changing IMIs still show how fragile the real estate industry is though it is still in the stages of recovery.
The recorded increases in home prices are considered marginal results. Some experts still agree that any downward trend carries the possibility of these positive results being wiped out in the recovering housing market of these cities causing a downward spiral.
Yet most experts also agree that inclusion of new areas and cities to the current IMI list are considered encouraging to the overall economies. With the recovery in the housing markets also resulted in an improvement in the job and local economies of these cities.
This recovery seen in the housing markets is conveying a positive image to potential homebuyers to buy properties with more confidence. This gives buyers the option to purchase homes that have low market values and low mortgage rates establishing competition among sellers.