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Seasonal Stumble in Housing Market -Freddie Mac

Wednesday, March 25, 2015

Freddie Mac said today that housing market stability "stumbled a bit" due to the cold winter weather and softening economic growth.  The company's Multi-Indicator Market Index (MiMi) declined slightly in January a decline described as broad-based rather than concentrated in just a few state or metropolitan markets.  Despite the lower MiMi index, Freddie Mac's economists said that "an improving labor market and attractive mortgage rates continue to promise a strong spring homebuying season."

The national MiMi value declined a slight 0.20 percent from December to January to stand at 74.6, indicating a weak housing market overall.  In addition to the month-over-month negative change there was a 3-month decline of -0.37 percent.  On a year-over-year basis, the U.S. housing market has improved by 3.39.

 

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