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Freddie Mac Index Shows Deterioration in some Energy Dependent Markets

Wednesday, January 28, 2015

Freddie Mac's Multi-Indicator Market Index (MiMi) rose nationally this month for the third consecutive time. This, along with improving three month trends in thirty-four states and the District of Columbia and 37 of 50 metropolitan areas shows, the company said, that the U.S. housing market is continuing to stabilize.   The same time last year, 34 states plus the District of Columbia, and 41 of the top 50 metro areas were showing an improving three month trend.

Len Kiefer, Freddie Mac Deputy Chief Economist said, "Housing markets are stabilizing. Low mortgage rates help to keep affordability in-check across many markets. Labor markets are strengthening, but generally have room for improvement. We're keeping an eye on markets with deep ties to energy. We've noticed some deterioration on a month-over-month basis in some of these energy markets, especially smaller markets with less diversified economies. Overall MiMi has improved for the third consecutive month showing housing markets are getting back on track."

 

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