The housing recovery spread to more markets in February,
according to industry data, indicating that more parts of the country are
showing signs of improving economic health.
A total of 259 metropolitan areas were listed as improving,
according to an index produced by the National Assn. of Home Builders. That was
an increase from 242 markets listed as improving in January.
“Today, the story is about how widespread the recovery has
become as conditions steadily improve in markets nationwide,” David Crowe,
chief economist for the builders group, said in a news release.
The index tracks employment growth, home price appreciation
and single-family housing permit growth.
It was the sixth consecutive month of improvement in the
index. All 50 states now have at least one improving metro area. Newly added
areas include
and
The housing recovery began in earnest last year. The rebound
came as foreclosures declined, housing inventory plummeted, mortgage interest
rates hit record lows and demand from investors surged last year.
