mr.vegas
Hot Housing Markets
This is a heat map of hot housing markets (Q3 2007) based on two criteria: housing affordability and housing prices. All of the metropolitan areas mapped have housing opportunity indices (HOIs) greater than the national average of .4 and rising housing prices.
The entire dataset can be found at geocommons.com under "Hot Housing Markets" Link: www.geocommons.com/data_set/show/7939
The HOI is a number that ranges from 0 to 1 and it measures the percent of the households in a region that can afford the homes for sale in that area. Source: Wells Fargo - National Association of Homebuilders ( www.nahb.org/page.aspx/category/sectionID=135).
The housing price index comes from the Office of Federal Enterprise Oversight(www.ofheo.gov/FAQs.aspx)
Three additional indices were created for each metro area based on the original data:
Normalized HOI: City HOI for 3d Quarter 2007 divided by the maximum value of HOI on the list.
Normalized Change in HPI: City Percent Increase in HPI divided by the maximum percent increase on the list.
Combined Normalized Index: Normalized HOI multiplied by Normalized Change in HPI.
The indices were created to highlight which cities are relatively affordable and have relatively high growth rates in housing prices.
Hot Housing Markets
This is a heat map of hot housing markets (Q3 2007) based on two criteria: housing affordability and housing prices. All of the metropolitan areas mapped have housing opportunity indices (HOIs) greater than the national average of .4 and rising housing prices.
The entire dataset can be found at geocommons.com under "Hot Housing Markets" Link: www.geocommons.com/data_set/show/7939
The HOI is a number that ranges from 0 to 1 and it measures the percent of the households in a region that can afford the homes for sale in that area. Source: Wells Fargo - National Association of Homebuilders ( www.nahb.org/page.aspx/category/sectionID=135).
The housing price index comes from the Office of Federal Enterprise Oversight(www.ofheo.gov/FAQs.aspx)
Three additional indices were created for each metro area based on the original data:
Normalized HOI: City HOI for 3d Quarter 2007 divided by the maximum value of HOI on the list.
Normalized Change in HPI: City Percent Increase in HPI divided by the maximum percent increase on the list.
Combined Normalized Index: Normalized HOI multiplied by Normalized Change in HPI.
The indices were created to highlight which cities are relatively affordable and have relatively high growth rates in housing prices.