As more U.S. housing markets improve, an adage about what matters in real estate is proving true: location, location, location.
While property markets across the country rose together during the housing boom and fell together during the crash, new data analyzed by real-estate firm Zillow Inc. for The Wall Street Journal show that markets are exiting the downturn at different speeds.
The findings come amid fresh evidence Tuesday of the housing recovery’s tentative progress. May single-family housing starts rose by 3.2% from April on a seasonally adjusted annual basis, while building permits increased 7.9%, according to the Commerce Department.