The South shall rise again, according to the latest report from Housing Intelligence, which says three Southern metropolitan areas sat atop the housing market in the first quarter.
The border town of McAllen, Tex., tops the country in job growth, HI says, rising at an annual rate of 3.4%. "Cross-border commerce with Mexico, tourism, and the health care industry continue to drive the expansion in McAllen," the California-based research firm says.
Meanwhile, Port St. Lucie, Fla.., leads the country in terms of permit activity. Permit issuances there have "nearly quadrupled" from last year when construction activity came to an almost screeching halt.
At the same time, Huntsville, Ala., leads the way when it comes to HI's housing growth ratio, which measures the number of building permits issued per 1,000 residents. "This expression of supply is a good indicator of how quickly a market is expanding relative to the number of people living there," the research outfit explains.
In Hunstville's case, 5.77 permits per 1,000 residents were issued over the last 12 months. That’s a pace unmatched by any other metro area in HI's list of the top 75 markets for which it publishes "Market Snapshots."
