Industry News

Single-family real estate ‘stable’

Washington, D.C., Orange County, Calif., maintain 'strong' 4th quarter markets

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Mortgage Guaranty Insurance Corp. today reported that its national Market Trends Index remained at 6.58 in the fourth quarter, the same as it was for the third quarter 2003. "The national economy started to show some improvement, as demonstrated in real GDP – improved income trends and business investment," said Neil Siegel, MGIC's senior market analyst. "However, the housing sector has not yet reflected these changes." MGIC's MTI is based on the Market Trend Analysis Report produced quarterly by MGIC's Credit Policy Department, using lagging three-month market data from 73 Metropolitan Statistical Areas (MSAs). The index is a barometer of single-family real estate market conditions with readings ranging from 1 to 10. A reading of 1 indicates a weak market showing no signs of improvement; a reading of 10, a strong market with no signs of deterioration. A reading of 6 to 8 indicates a stable market. Siegel notes that 9 of the 73 markets tracked by MGIC are currently experienc...