The list of U.S. housing markets showing measurable and sustained improvement rose by four to include 84 metros in July, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today.  This number includes representatives from 32 states plus the District of Columbia.

The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. This month’s IMI includes 73 metros that held their positions on the list from June, as well as 11 newly added markets. Notable new entries include such geographically diverse places as Prescott, Ariz.; Springfield, Mass.; St. Cloud, Minn.; and Houston, Texas.

“The geographic diversity and growing number of metros on the latest IMI help spotlight the improvements we have begun to see in terms of home prices and job market conditions across certain parts of this country, which in turn are spurring more demand for new homes,” said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “That said, our members continue to assert the need for more reasonable credit standards and more accurate appraisal methods to perpetuate this positive momentum.”

“The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy,” added NAHB Chief Economist David Crowe. “This is evidence that the housing recovery is slowly but surely taking root, one market at a time.”

“The positive takeaway from today’s report is that an increasing number of consumers are looking at better conditions to both buy and sell homes, which should help spur greater activity in certain markets going forward,” noted Kurt Pfotenhauer, vice chairman of First American Title Company.

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list.

A complete list of all 84 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in July, is available at www.nahb.org/imi.

The NAHB/First American Improving Markets Index (IMI) is released on the fourth business day of each month at 10:00 a.m., ET, unless that day falls on a Friday – in which case, the index is released on the following Monday. A full calendar of future release dates can be found at www.nahb.org/imi.

THANK YOU to Pillar Homes and Amcon Block for being the latest companies to donate to BAM’s Building MN Homes – Building MN Jobs 2012 Election Fund.

BAM is seeking 50 members to step up and lead the effort by committing $500 from their business to support this effort. Now is the time to act together to support candidates who support the building industry! 50 member companies – $500 each – 50 days.

To donate: Download the form, print and fill out and mail to BAM, 525 Park Street, Suite 150, Saint Paul, MN 55103. Call us or donate online.

For more information visit: bamn.org/events and click on Building MN Homes – Building MN Jobs.

The Builders Association of Minnesota has created a 2012 independent expenditure fund, Building MN Homes – Building MN Jobs, as a way to work together to ensure we elect candidates this fall that support our industry. The dollars will be used to purchase flyers, advertisements and radio support for candidates who support the residential construction industry and small business.

BAM is seeking a group of 50 members to step up and lead the effort by committing $500 from their business to support this effort.

Thank you to the member companies that have stepped to the plate to help meet our goal of $25,000 by August 24th!

Home Check Plus

Kylmala Truss

Marvin Windows and Doors

St. Cloud Overhead Door

Superior Mechanical

The Builders Group

W Gohman Construction

50 member companies – $500 each – 50 days!

For more information including how to donate click here.

BAM is proud to announce it has endorsed a new members-only general liability insurance solution that offers not only good insurance, but the right insurance for each builder in addition to a special risk management program designed for broader coverage with the side benefit of very competitive pricing. Corporate Four was chosen by the BAM Insurance Committee because they offer the most comprehensive program for the Minnesota residential construction industry specifically designed to increase the insurability of association members.

With the departure of Continental Western Group (CWG) from the residential construction general liability and umbrella insurance market, BAM has been focused on finding a new insurance solution for members. Upon review of the current insurance marketplace, members of the BAM Insurance Committee realized that insuring a residential builder is not only complicated, but for builders who subcontract over 50% of their work, it can be a challenge. The Insurance Committee recognized an endorsed insurance program should not only benefit BAM’s long term goal to provide good quality insurance for the builder, but it should also provide builder members with the best insurance rate with the best coverage. Enter Corporate Four.

Corporate Four has been involved with the builders association for years. Agents Mike Hoppe and Larry Larson are well aware of the ever changing regulatory environment the industry face and aggressively work to keep up with those changes to the benefit of their clients. They have excellent resources to access special rates and exclusive insurance programs for association members.

Another standout quality of Corporate Four is the program they created to assist builders in managing the risk associated with home construction. Their program can assist members in lowering insurance costs while better protecting assets.

BAM is excited to offer Corporate Four to its members and we encourage you to give Mike Hoppe or Larry Larson a call to begin working with them to see how this solution will work for you.

Contact Mike Hoppe, CIC, Vice President at: mhoppe@corporatefour.com or 952-893-9218

Contact Larry Larson, Agent at: llarson@corporatefour.com or 952-893-9218

Read more about BAM’s new members-only insurance solution here.

Finance & Commerce published a story June 12, 2012 reporting on the employment outlook for construction in Minnesota in light of the latest Manpower Employment Outlook survey. For all employment sectors, the article states more employers plan to hire than fire in the third quarter of 2012, and job prospects look especially strong in construction, durable and non-durable good manufacturing, and professional and business services.

Minnesota’s construction sector, which lost about 50,000 jobs during the recession, lost another 1,600 in April, but overall the industry is still up 1,600 jobs for the past 12 months. In April, Minnesota’s unemployment rate fell two-tenths of a percentage point to 5.6, despite the fact that employers eliminated 3,100 jobs according the state Department of Employment and Economic Development.

BAM’s Executive Vice President, Pam Perri, is quoted in the article and states, “The builders that survived the Great Recession are getting more work building multifamily dwellings and custom homes. Rehab projects also are available.”

Read the full article here.

In an effort to help victims of the recent tornado destruction in North Minneapolis rebuild and repair their homes without worry of falling prey to construction by unlicensed contractors, the Builders Association of Minnesota, together with four partner associations, has created a comprehensive online resource to help families quickly and easily locate reputable contractors. The site also offers helpful information about how to hire a licensed contractor.

The new website www.remodelminneapolis.org has complete listings of remodeling professionals, electricians, tree removal and tree service contractors, and plumbing, heating and cooling professionals. All of the companies listed on the site are licensed by the State of Minnesota and are members of the partner associations:

• Builders Association of Minnesota
• Builders Association of the Twin Cities
• Minnesota Electrical Association
• Minnesota Nursery and Lanscape Association
• Plumbing-Heating-Cooling Contractors Association of Minnesota

Hiring from these lists means a homeowner can be certain that each company has met the professional standards of these organizations.