Dive Brief:

• Almost two-thirds of the nation’s housing markets are operating at 90% of their “normal,” pre-recession levels for permits, prices and employment, the National Association of Home Builders/First American Lending Markets Index revealed last week.

• NAHB Chairman Tom Woods said the pace of market improvements is “consistent,” and credited the good news to the growing economy and rising consumer confidence.

• Baton Rouge, LA, improved the most of the 350 metropolitan areas included in the index, followed by Austin, TX; Honolulu; Houston; and Oklahoma City.

Dive Insight:

While most index measures show the markets are returning to normal, the number of single-family housing permits have recovered to just 44% of normal activity, a pace NAHB Chief Economist David Crowe called “sluggish.” Demand for single-family homes continues to trail that for multifamily units as many young adults put off marriage and families and opt to locate in dense, urban areas.