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Housing Improving but Seemingly never Recovered
Wednesday, August 26, 2015
The topline news while accurate is also growing monotonous: housing market continues to improve. Freddie Mac added another chapter to the seemingly
endless tale today with its updated Multi-Indicator Market Index or MiMi. The index measures where national, state, and
the top 100 metropolitan housing markets stand relative to each one's own stable
range of housing activity and whether it is trending toward or further away
from that point.
The national MiMi improved by 1.33 percent from May to June
and shows a three-month change of +2.26 percent and 5.41 percent
year-over-year. The MiMi value at the
end of June was 80.3, up 35 percent from its low point in October 2010 but significantly
below its high of 121.7.
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