5 unexpectedly hot housing markets

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Five housing markets in which home prices, building permits and employment growth have increased at impressive rates since their troughs between 2007 and 2011 are not all found in warm, sunny locales, according to the NAHB/First American Improving Markets Index (IMI).

The five markets, in which home prices have gained an average 28.4 percent since their recent bottom, permits are up an average 17.8 percent, and employment has increased an average 12.8 percent, are:

  • Phoenix, Ariz.
  • Odessa, Texas
  • Bismarck, N.D.
  • Boise, Idaho
  • Detroit, Mich.

Source: InvestingAnswers