Housing market in excellent health

New index from Nationwide finds conditions are in best shape since ’01

The U.S. housing market is the healthiest it’s been since at least 2001, according to a new index prepared by Nationwide.

The Columbus-based insurance and financial-services firm launched the index today.

Called the Leading Index of Healthy Housing Markets, the calculation uses data involving employment, household formation, home prices and mortgage rates to gauge the overall health of housing.

The index stands at 109.8, the highest point in the 15 years of data that Nationwide compiled.

“According to our data, the housing market is the healthiest since at least 2001,” said Nationwide’s chief economist, David Berson.

“That doesn’t mean the fastest growing but the most sustainable. The odds of a housing downturn are very small,” Berson said.

According to the index, the healthiest housing markets in the country are Pittsburgh, Cleveland and Philadelphia. Only two of the 373 markets studied — Bismarck, N.D., and Atlantic City, N.J. — were deemed unhealthy.

Central Ohio’s housing market ranked 88th best.

The index can be found at www.inthenation.com/housing/.

Leave a Comment