Housing 101

COEUR d'ALENE - A national report found Coeur d'Alene among the top 101 improving real estate markets.

The announcement from the National Association of Home Builders/First American Improving Markets Index was released Friday.

The index identifies metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months.

"Obviously, we are very pleased to be included on this list" said Angela Erickson, North Idaho Building Contractors Association president. "The national recognition is simply one more supporting piece of documentation of what we are feeling locally. We are certainly not out of the woods yet but this type of statistical information does support the fact that we are heading in the right direction."

The list of housing markets showing measurable improvement expanded slightly in April, including Coeur d'Alene.

The 101 markets on the April IMI represent a net gain of two from March, with 13 metros being added and 11 markets slipping from the list while 88 markets retained their places on it.

Thirty-five states are now represented by at least one market on the list.

NAHB Chairman Barry Rutenberg said some housing market across the country are continuing to struggle "under the weight of overly tight lending conditions and other challenges."

The latest report, he said, is "positive news in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations."

Kim Cooper, president of the Coeur d'Alene Association of Realtors, said the Coeur d'Alene market is showing modest improvement over last year, with an increase in number of units sold, and an average price of $185,103, which is 12 percent higher than last year.

"The trend we have seen for the past several months indicates an improving market," he said.