NAHB Has a New Way to Measure Housing Recovery

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Posted To: MND NewsWire

The National Association of Home Builders (NAHB) is introducing the latest in a series of indices it has employed to measure housing within a broader context of the economy. The first in our memory was the Improving Markets Index (IMI), introduced early in the recession and using 2007 as a benchmark to determine the post-downturn recovery of hundreds of cities and towns. This index was retired sometime in 2012 or 2013 and replaced by the Leading Markets Index (LMI) which switched the focus to the progress of communities in regaining their own (pre-recession) levels of activity. Both used three data sets for the assessment; Bureau of Labor Statistics employment data, Freddie Mac information on home prices, and U.S. Census counts of single-family housing permits. Now the LMI has been shelved…(read more)

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