IBS Show Report: Residential building on upswing, remodeling improving

01/30/2013

Las Vegas—With home prices rebounding and the outlook for 2013 appearing brighter, the International Builders’ Show (IBS), held in Las Vegas Jan. 22-24, was expecting an estimated 50,000 attendees. The National Association of Home Builders (NAHB), which sponsors the annual event, noted in a release that the number of metropolitan areas on the NAHB/First American Improving Markets Index rose for a fifth consecutive month to 242 in January. This is up from 201 markets listed as improving in December, and includes entrants from 48 states and the District of Columbia.

“We created the improving markets list in September of 2011 to spotlight individual metros where – contrary to the national headlines – housing markets were on the mend,” noted NAHB Chairman Barry Rutenberg, a home builder from Gainesville, FL. “Today, 242 out of 361 metros nationwide appear on that list, including representatives from almost every state in the country. The story is no longer about exceptions to the rule, but about the growing breadth of the housing recovery even as overly strict mortgage requirements hold back the pace of improvement.”
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