Bangor housing market improving
The Bangor metro area is one of 12 areas nationwide highlighted by the National Association of Home Builders showing strength in its housing market.
In its first monthly Improving Markets Index, NAHB found that Bangor showed improvement for at least six months in three key areas: housing permits, employment and housing prices, according to a press release. The association reported that the number of housing permits in Bangor grew 2.1% since last September, the date it signified as that indicator's trough, while prices rose 2.8% since the May 2010 trough. Employment has also grown 2.6% since last September.
NAHB uses employment data from the federal Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit data from the U.S. Census Bureau to compile its index. The association said that no market at this time last year showed at least six months of improvement in these three areas.
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