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» VISIT US ONLINE @ DSNEWS.COM After 40 years in the business, we understand climate change. The business world is constantly moving, and those who can't keep up are at risk of being left behind. That's where we come in. Butler & Hosch is a regional law firm that operates at the speed of business, offering our clients experience, expertise and efficiency - with the ultimate goal of exceeding your business expectations. Want to move forward? Find out more at butlerandhosch.com or contact us at oneroof@butlerandhosch.com butlerandhosch.com PRACTICE AREAS: Foreclosure, Bankruptcy, Litigation, Loss Mitigation, REO, Title, and Eviction SEVEN STATES: Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina and Texas FEWER MARKETS IDENTIFIED AS 'IMPROVING' The number of markets listed on the Improving Markets Index (IMI) published by First American and the National Association of Home Builders (NAHB) continued to decline in August, though the index still sits well above where it was last year. A total of 247 markets across 49 states and the District of Columbia qualified for the list in August, eight short of July's total but nearly three times the number reported in August 2012. Connecticut was the only state not to be represented on the list last month. The IMI tracks three major indicators— employment, home prices, and housing permits—across the United States to determine which metro areas have shown growth from their respective troughs for at least six straight months. "While the number of improving housing markets this August remains well ahead of the same month last year, the index is affected by seasonal softening in home prices just as we saw happen in 2012," explained NAHB chief economist David Crowe. "The metros that fell off the list this month originally qualified with very small home price improvements that have since slipped back," Crowe continued. "As house prices return to more normal levels in fully recovered markets, further IMI advancements will be more modest." Eleven markets dropped from the list from July to August. Among them were Lancaster, Pennsylvania; Tyler, Texas; and St. Cloud, Minnesota. Three new metros were added: Kankakee, Illinois; Atlantic City, New Jersey; and Ocean City, New Jersey. "In all, 244 metros that were listed as improving in July retained that status in August, and this is an encouraging sign of the continuing housing recovery," said Rick Judson, NAHB chairman. "That said, we know that the pace of improvement is being hampered somewhat by challenges that builders and buyers are experiencing with regard to the availability of credit, material, lots for development, and labor." MOVING BUSINESS FORWARD. STAT INSIGHT Total Shadow Inventory: 1.99 Million Pending Serious Delinquency: 890,000 Pending Foreclosure: 760,000 Pending REO: 340,000 Source: Wells Fargo Securities Economics Group; Figures as of April 2013 59