Housing Markets Improve Nationwide
The United States is experiencing improvements in housing markets across the country.
According to the latest Multi-Indicator Market Index (MiMi) released by Freddie Mac, the national housing index rose to 80.3 at the end of June, a 5.41 percent increase from the previous year. This indicates that overall conditions in the country are improving.
“Housing markets are the strongest they've been in years with the national MiMi above 80 for the first time since 2008,” Len Kiefer, Freddie Mac’s deputy chief economist. “Nationally, all MiMi indicators are heading in the right direction.”
Freddie Mac uses a weighted average of four major data sets that evaluate employment, home sales and mortgage trends in various markets. The index is benchmarked at 100, which is considered the long-run average. A figure above 120 indicates the housing market is overheating.
Source: U.S. Housing Markets Strengthen