College Station is among 40 new metropolitan areas added in January to the National Association of Home Builders/First American Improving Markets Index (IMI), which identifies areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months.
The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators 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.
According to the NAHB index, the College Station area has seen 4.5 percent growth in employment, a 7.8 percent increase in home prices and a 3.0 percent rise in single-family housing permits.
“We’re encouraged that the housing market is improving and we’d certainly like to see that positive trend continue,” College Station City Manager David Neeley said. “It clearly demonstrates the resiliency of our local economy and the city's commitment to facilitating development.”
The number of housing markets showing measurable improvement nearly doubled in January to 76. College Station is among 11 Texas cities on the list, joining Amarillo, Corpus Christi, Dallas, Laredo, McAllen, Midland, Odessa, Sherman, Tyler and Victoria.
A complete list of metropolitan areas on the current IMI is available at nahb.org/imi.