Housing markets that avoided the worst of the subprime and speculative price problem are now expanding much faster than other housing markets.
Fifteen cities with a population of 500,000 or more are issuing housing permits at more than double the national average. Generally, these cities avoided the worst of the sub prime mortgage problem and soaring home prices in 2004-06 and are now able to support a reasonable active housing market. Many of these cities are now seeing small increases in home prices.
El Paso issued housing permits over the last twelve months through December at 3.7 times the national average per 1,000 population. Des Moines and Little Rock were the next most intensive market for housing development issuing more than three times the number of permits per 1,000 population as the US average.