According to a recently released quarterly report from Nationwide Economics, two of Pennsylvania’s largest metro markets have the healthiest housing markets in the U.S. The study uses the Leading Index of Healthy Housing Markets (LIHHM) to create its rankings, and is calculated using a number of variables including employment, demographics, mortgage market rates, and median home prices.
Lancaster and Wilkes-Barre/Scranton Metropolitan Statistical Areas are the only two MSAs in the nation with a +3 ranking while 57 MSAs have a ranking of +2 in the latest report, suggesting very healthy housing fundamentals in these local markets. Overall, more than three-quarters of the MSAs across the country have a positive ranking in the 2017 Q1 report. Other strong PA markets include Philadelphia and Pittsburgh, which each rated a +2 – an increase of +1 ranking from Nationwide Economics 2016 Q4 summary.