U.S. housing markets are the strongest since 2008
2015-09-08Over half of all states have housing markets that have improved significantly — to the point of stability — with a key measure of the state of the industry at its highest since 2008. Freddie Mac’s Multi-Indicator Market Index, comprising four economic indicators, monitors the housing markets of all 50 states, the District of Columbia and the top 100 metro markets.
“While home prices are still 7% below peak values nationally, price indices in many markets are at all-time highs and current low interest rates are helping to support homebuyer affordability,” Len Kiefer, deputy chief economist of Freddie Mac, said in a release.
“Mortgage delinquencies are coming down rapidly but are still high in many markets. Housing markets are the strongest they’ve been in years with the National MiMi above 80 for the first time since 2008.”
An index score below 80 represents a weak market, while a measure above 120 would indicate an “elevated” market. A MiMi index between the two benchmarks would signal a “stable” market.
Source: https://www.nerdwallet.com/blog/mortgages/mortgage-rates/mortgage-market-roundup/
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