Is Tri-Cities a Smart Place to Invest in Real Estate? We’re in the Top 250 Markets Nationally
Hooray! We're ranked No. 241 nationally! Oh, sure, that doesn't sound impressive, but think about it. Out of every community in the entire country, the Tri-Cities is among the 250 strongest housing markets.
That's according to the National Association of Home Builders/First American "Improving Markets Index" (IMI).
The IMI is a list created every spring listing the nation's most impressive "improving markets."
Out of the 361 metropolitan areas, Tri-Cities ended up on the list at No. 241! That is up from No. 249 from last year.
New housing starts are off to a vigorous pace -- up three percent over last year! Home sales in Tri-Cities are also up from 152 in January of last year to 192 last month! Low home mortgage interest rates are playing a big role in that activity.
The national list released a week ago indicate the number of "improving" housing markets has grown for sixth consecutive months. There are now a total of 259 metropolitan areas seeing improvement (versus only 242 areas in January). The list includes communities in all 50 states and the District of the Columbia.
To make the list, an area must show improvement in housing permit numbers, employment rates and house prices for at least six consecutive months from its "trough," or low point.
A total of 20 new communities were added to the list and three were dropped in February. Newly added areas include Rome, Georgia; Fort Wayne, Indiana; Myrtle Beach, South Carolina; Albuquerque, New Mexico; and Racine, Wisconsin.
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