Markets & Economy

Freddie Mac index indicates housing market remains ‘weak’

Despite rating, metros in West and Southwest most 'stable'

Freddie Mac’s recent Multi-Indicator Market Index (MiMi) indicates that overall, the U.S. housing market is still underperforming. The national housing market received a recent rating of 78.7 percent, which is up 2.1 points from three months ago and 3.57 points annually. However, a value below 80 is considered “weak” by Freddie’s standards. A sub-80 value for the nation indicates that a number of markets are seeing unemployment, delinquency or payment-to-income rates that exceed historical averages. A number of these markets must also be experiencing a decrease in home purchase applications. On the flip side, 26 of the 50 states, plus the District of Columbia, have MiMi values in a “stable” range – 80 to 120, including: District of Columbia (97.8) North Dakota (96.3) Montana (92) Hawaii (91) Alaska (87.4) “Unlike a year ago, when the most improving markets were those hardest hit by the Great Recession, we're now seeing stable markets amon...