National Association of Home Builders says Lubbock is now on a list of cities nationwide where the housing market is improving. Although Lubbock home sales never crashed, the numbers did show a noticeable slowdown since 2009.
The Association says Lubbock's housing market hit its lowest point in the recession in September of 2011. Since then permits for new home construction are up 10% and home prices are up 2.7% according to a chart released on Monday.
NAHB says its monthly list grew from 75 to 80 cities.
"The index identifies metropolitan areas that have shown improvement … in housing permits, employment and house prices for at least six consecutive months," the Association said in a written statement. It also said, "The five metros that were added to the list this month include Miami and Palm Bay, Fla.; Hinesville, Ga.; Terre Haute, Ind.; and Lubbock, Texas."
Link to written statement and full list: http://www.nahb.org/news_details.aspx?newsID=15469
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