November Index of Improving Markets Eclipses Previous Record at 125

The number of housing markets across the country showing lasting improvement expanded by leaps and bounds in November, according to a report from the ""National Association of Home Builders"":http://www.nahb.org/default.aspx (NAHB).

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The Improving Markets Index (IMI), put together monthly by NAHB and ""First American,"":http://www.firstam.com/ showed 125 markets demonstrating consistent improvement, up from the previous record high of 103 in October.

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This marks the third monthly gain for the index, which now includes markets in 38 states and the District of Columbia.

In addition, 97 of the 103 markets listed in October retained their spots on the list, observed Barry Rutenberg, NAHB chairman and a homebuilder from Gainesville, Florida.

""This shows that a housing recovery is firmly taking root and helping generate needed jobs and economic growth across much of the country--though we know that this expansion could be even stronger were it not for ongoing challenges including overly tight lending conditions and difficult appraisals,"" Rutenberg said.

The index identifies metro areas that have shown improvement from their respective troughs in housing permits, employment, and home prices for at least six straight months. The list for November includes locations ranging from San Diego, California, to Charlotte, North Carolina, and many places in between.

According to NAHB chief economist David Crowe, the number of improving markets in November 2012 is more than four times the number that made the November 2011 list. It also represents about one-third of all the markets surveyed for the index.