Across the U.S., a total of 263 housing markets made it on the list compiled by the National Association of Home Builders/First American Improving Markets Index (IMI) in June 2013. Debuting in November, Naples has consistently ranked on this list, which is designed to track markets across the country with improving economic health.
According to the NAHB, The IMI uses three sets of independent monthly data, including employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. Most importantly, a metro area must be measured for six consecutive months and show improvement in all three measures before making the list. Overall, improving markets have almost tripled since June of 2012, one year ago.
Naples leads the way in employment growth for Florida metro areas with a 10.4 percent growth rate. Compared to even higher levels of growth elsewhere in the country, Naples still has plenty of room for improvement but overall is showing excellent signs.