CINCINNATI, OH (FOX19) - The Greater Cincinnati metropolitan statistical area has been named to the National Association of Home Builders Improving Market Index.
January's index saw the number of markets listed as improving double as the housing market climbs out of the recession into recovery.
The index is based on metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months. Northern Kentucky is the first area included in the IMI since NAHB began tracking improving markets coming out of the housing recession.
"Our local housing industry is excited and cautiously optimistic about the future of housing here in our hometown," said Brian Miller, Executive Vice President for the Home Builders Association of Northern Kentucky. "The market is beginning to pick up and that is a welcomed sign. We are seeing housing permits increase on a year over year basis without the support of tax credits for the first time since the recession began."
A complete list of all 76 metropolitan areas currently on the IMI is available at www.nahb.org/imi.