Housing Barrels Forward in First Half of Year, Leaving Permits Behind

Housing barreled forward from the first quarter to the second quarter of 2017, with gains recorded in roughly 300 markets measured in the latest National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI). Markets overall are at an average 102 percent of normal activity, with “normal” tied to activity recorded from 2000 to 2003. Employment is at 98 percent of normal activity, and home prices are at 152 percent of normal activity. Single-family permits are