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Housing Indicator Continues to Stabilize; Energy States at Risk

Wednesday, February 25, 2015

Freddie Mac said on Wednesday that its Multi-Indicator Market Index (MiMi) still shows that, at the national level, housing is continuing to stabilize.  Thirty-eight of the 50 states plus the District of Columbia are now showing an improving three-month trend as are 40 of the 50 largest metro areas. However, at the same time last year, 47 states plus the District of Columbia, and 47 of the top 50 metro areas were showing an improving three month trend.

MiMi monitors and measures the 50 state and 50 metro areas by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments in each market, and the local employment picture. From this the company creates a composite MiMi value for each market to show, at a glance, where each stands relative to its own stable range of housing activity and whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.

 

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