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She continued: “An additional factor that has begun and will continue to play a larger role in the market recovery is the fact that enough time has passed to repair the credit many of the people who were in the first wave of short sales and foreclosures and from all of the data we have seen, a large number of those people wish to own a home again in the future.”

Florida isn’t the only southern state to see an improvement. “The Greater Baton Rouge residential market continues to strengthen; inventory and days on market are down, pendings and sales are up,” notes Glenn “Chip” Gardner, vice president of special Initiatives for GARDNER REALTORS, member of Leading Real Estate Companies of the World®, who doesn’t foresee the market’s momentum slowing down anytime soon. “We are seeing values rise as the housing supply remains tight; we have less than five months of inventory on the market coupled with increasing demand. Accordingly, we are seeing an increasing amount of multiple offer situations in certain neighborhoods.”

To see a complete list of all 263 metros currently on the IMI, visit www.nahb.org/imi.

Associate Editor Zoe Eisenberg contributed to this report.

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