Markets in 54 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders.

Reports show that most housing markets across the nation are continuing a slow, gradual climb back to normal levels. policymakers must guard against actions that could impede or even reverse the modest gains of the past year.

The figures are in comparison to what is considered the last "normal" period which ran from 2000-2003 and for employment , 2007 is used as the base comparison.