Gap Widens Between Stable and Recessionary Housing Markets
Abstract:
The gap between distressed and growing housing markets continues to widen as housing permits fell marginally in November, 2007 to a level 48% below the January, 2006 peak. The gap is likely to widen further based on the latest regional trends in home prices. Permits are now higher in 97 of 360 metro areas than at the peak of the housing boom in late 2005/early 2006. Five of the 10 housing markets with the most intense development are in North Carolina. Myrtle Beach, South Carolina is at the top of the list.
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The gap between distressed and growing housing markets continues to widen as housing permits fell marginally in November, 2007 to a level 48% below the January, 2006 peak. The gap is likely to widen further based on the latest regional trends in home prices. Permits are now higher in 97 of 360 metro areas than at the peak of the housing boom in late 2005/early 2006. Five of the 10 housing markets with the most intense development are in North Carolina. Myrtle Beach, South Carolina is at the top of the list.