The Improving Markets Index (IMI) from the National Association of Home Builders (NAHB) and First American reached a new high in September with a number of 291. The index also added the largest number of new markets (49) to the list since December 2012, where 84 markets were added. Five markets were dropped from the index, mostly due to a fall back in prices and one because of permits. There are several reasons that can explain the increase in markets. One is because Freddie Mac, who calculates the housing price index for metropolitan markets, recently increase the accuracy of their index. Another reason can be the seasonal attributes of the index.
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