Issue link: https://read.dmtmag.com/i/298794
42 • MAY 2014 • WORLD FENCE NEWS www.gatesandcontrols.com Seattle 800-548-2365 Sacramento 800-926-5520 Portland 800-204-7344 Las Vegas 866-275-1651 Serving You Since 1991 All the stuff you need! Wholesale to the Gate & Access Control Industry Anaheim 877-386-9797 Spokane 866-709-8869 Enjoy the Adventure! Check out (and link to) some of the best web sites in the fence industry at World Fence News OnLine! www.worldfencenews.com Latest NAHB housing index shows recovery continues to spread Of the approximately 350 metro markets nationwide, 59 returned to or exceeded their last normal levels of economic and housing activity, ac- cording to the most recent National Association of Home Builders/First American Leading Markets Index (LMI). This represents a net gain of 11 metros year over year. The index's nationwide score ticked up to .88 from a March reading of .87. This means that based on cur- rent permit, price and employment data, the nationwide average is run- ning at 88 percent of normal economic and housing activity, the association noted. Meanwhile, 28 percent of metro areas saw their score rise and 83 per- cent have shown an improvement over the past year. "I think the big news here is that regions outside of the energy states continue to gain ground," said NAHB chief economist David Crowe. "It's a promising sign to see areas like Los Angeles and San Jose joining the top 10 largest MSAs showing a recovery. We still expect 2014 to be a strong year for housing and to aid in the over- all economic recovery. The job market continues to mend and with that we will see a steady release of pent up de- mand of buyers." Baton Rouge, La. continues to top the list of major metros on the LMI, with a score of 1.42—or 42 percent better than its last normal market level. Other major metros at the top of the list include Honolulu, Oklahoma City, and Austin and Houston, Tex., as well as San Jose, Calif. and Harris- burg, Penn.—all of whose LMI scores indicate that their market activity now exceeds previous norms. "Things are getting slowly better overall," said NAHB chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "And with the housing market now entering the spring buying season, the fact that the nation's economy is headed in the right direction is a very promising sign." "Stronger employment numbers seemed to be the driving force this month—an important factor to the re- covery of our economy," added Kurt Pfotenhauer, vice-chairman of First American Title Insurance Co., which co-sponsors the LMI report. Smaller metros showing recovery continue to be dominated by the mid- dle of the country experiencing an en- ergy boom. Odessa and Midland, Tex. boast LMI scores of 2.0 or better, with their markets now at double their strength prior to the recession. Also at the top of the list of smaller metros are Bismarck, N.D.; Casper, Wyo.; and Grand Forks, N.D., respectively. The LMI shifts the focus from identifying markets that have recently begun to recover, which was the aim of a previous gauge known as the Im- proving Markets Index, to identifying those areas that are now approaching and exceeding their previous normal levels of economic and housing activ- ity. More than 350 metro areas are scored by taking their average permit, price and employment levels for the past 12 months and dividing each by their annual average over the last pe- riod of normal growth.