Toledo Housing Market Improving

Toledo home builders see market improvement.

Toledo home building on the upswing!According to the National Association of Home Builders/First American Improving Markets Index (IMI), Toledo Ohio has joined the index that identifies metropolitan areas that have shown improvement from their respective troughs in Toledo home building permits, employment and house prices for at least six consecutive months.

This is great news for Toledo home builders and could mean light at the end of a long dark tunnel for Toledo Real Estate.

“The increases we continue to see in the number and geographic diversity of improving metros are quite encouraging, and evidence of the fact that all housing markets are dependent on uniquely local factors,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. He noted that as of December, a total of 21 states and the District of Columbia are represented on the improving markets list — up from14 states represented in November.

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metro area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list.

Let’s keep it going Toledo home buyers!

There’s plenty of pent-up Toledo home buying demand.  Toledoans want the real estate market to be healthy! Toledo home buyers have been standing by waiting to pull the trigger on their dream home and this news is just what they need to build their confidence.

2012 is looking like it just might the start of a Toledo home buying turn-around.

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