AgentIndustry News

Freddie Mac’s diagnosis: Housing markets are in stable condition

GSE’s Multi-Indicator Market Index shows more than half of all states are doing better than they have since 2008

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Takeaways: Freddie Mac gave more than half the states a clean bill of health this week. Twenty-eight of the 50 states, plus Washington, D.C., have Multi-Indicator Market Index (MiMi) values in a stable range, Freddie Mac said. Cities showing the most improvement are Stockton, California, and several Florida cities: Cape Coral, Sarasota, Lakeland and Tampa. Taking its Multi-Indicator Market Index (MiMi) stethoscope to the U.S. housing market, government-sponsored enterprise Freddie Mac gave more than half of the states a clean bill of health this week. MiMi monitors and measures the stability of the housing market on a national, state and metropolitan-area basis, combining Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios, proportion of on-time mortgage payments in each market and the local employment picture. T...