The National Association of Home Builders recently announced that housing markets in 52 out of approximately 350 metro areas across the country have now returned to or surpassed their pre-recessionary levels of activity. That’s great news for all of us, and here in Elmhurst it means that our housing market is on the right track.

Without going into all of the math, the Leading Markets Index (LMI) assigns scores based upon the number of current permits, prices, and employment data. As a nation, our housing market gets a score of .85 meaning that the nationwide housing market is running at 85% of normal activity. That’s just an average – many areas will be operating at levels that exceed 100% of where they were before the downturn.

NAHB Chairman Rick Judson says that this highlights just how far the housing recovery has come. He points out, however, that it also shows how far we have to go as we face what he calls “some significant headwinds in terms of credit availability, rising cost for lots and labor, and uncertainties regarding Washington policymaking.”

David Crowe, the Chief Economist of the NAHB notes that smaller metro markets are leading the way in the housing recovery. He says that they account for 43 of the top 50 markets in the LMI. Places like Odessa and Midland, Texas both have scores of 2.0 or more meaning they’re at double their pre-recession levels. Other high performers include Casper, WY, Bismarck, ND, and Florence, AL. Overall, the housing markets of 118 of all of the 350 or so metro areas sampled in the current LMI show activity of at least 90% of normal.

At the risk of beating the same drum yet again, now is one of the best times in recent memory to get into the housing market whether you’re a buyer, a seller or an investor. Here at The GracikMakinney Group, we’re perfectly placed to help you take full advantage of this opportunity. Give us a call today at 630-441-5570 or stop by the office at 190 North York Road here in Elmhurst.