We are going to look at the First American Improving Markets Index in this week’s article, but first I need to make a correction to my article titled Investing in Today’s Real Estate Market, published April 3rd. I stated that NuWire helped create the 2012 Housing Market Forecast which I referenced in that article. I was MISTAKEN. The 2012 Housing Market Forecast was authored by Marco Santarelli of Norada Real Estate Investments and was simply referred to by NuWire. I really appreciate Mr. Santarelli contacting me and pointing out the error.
There are several very positive signs that the market is truly stabilizing. I just recently became aware of the First American Improving Markets Index (IMI). This Index was created in September of 2011 by The National Association of Home Builders (NAHB). The IMI was created to measure the improvement in local housing markets using three key economic indicators. This index clearly helps identify the difference between what is happening nationally versus local markets.
IMI measures three sets of independent monthly data to get a marker on the top improving Metropolitan… Continue Reading