Quick, what does Nashville have in common with both L.A. and Des Moines?
All three were among the cities added last month to the Improving Markets Index run by the National Association of Home Builders and First American Title Insurance. Two-thirds of the country's metro areas are now esteemed members of that club.
“The IMI has almost doubled in the past two months as stronger demand during prime home buying season boosted prices across a broader number of metropolitan areas,” noted NAHB Chief Economist David Crowe. “Similar home price gains, and hence the IMI, may be tempered in the future as we see data from typically slower months for home sales.”