Markets & Economy

Freddie Mac MiMi shows Miami strong and improving

Nationally, all indicators are on the rise but only two are "in-range"

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Freddie Mac released its Multi-Indicator Market Index (MiMi) February 24 for December 2015. The MiMi indicates that the nation’s housing market continues to improve.

The MiMi judges a market as in-range if it’s between 80 and 120. Nationally, the market is in-range at 82.7, which is a monthly change of 1.7 percent and an annual change of 7.65 percent.

The MiMi is gauged by four indicators: purchase applications, payment-to-income, current on mortgage and employment.

All four of these indicators are on the rise, but only current on mortgage and employment are considered “in-range.”

In Miami, the housing market is in range at 88.1 and is improving. The index for December shows a 0.92 percent monthly uptick over November and a 14.56 percent annual change.

Out of the four indicators, three are on the rise: purchase applications, payment-to-income and current on mortgage. Payment-to-income and employment are considered “in-range.”