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Freddie Mac MiMi Report Is Showing An Improved Housing Market

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

 Each Month Freddie Mac puts out a Multi-Indicator Market Index (MiMi) Report.  This month their report showed some encouraging news.  Even though the MiMi Report did not show an overall strong Housing Market the Freddie Mac MiMi Report Is Showing An Improved Housing Market.

The Freddie Mac MiMi Reported a national MiMi value of 75.4%, which represents a weak Housing Market, however, this is a .69% improvement over February to March, and a 3.11% improvement over the same time last year.

According to Freddie Mac's Deputy Chief Economist, Len Kiefer "The nation's housing markets are getting back on track".  Kiefer's reasoning for arriving at this conclusion, is because in his opinion “Better employment prospects, rising home values and increased purchase activity are all driving improvements in housing markets across the country.”

I am not as optimistic as Kiefer, but the MiMi numbers have improved and are making there way back to the high of 121.7% in April of 2006, and from a  low of 57.4% in October of 2010.  The present 75.4% represents an improvement of 31.3% since October, 2010.

From the numbers above the Freddie Mac MiMi Report Is Showing An Improved Housing Market, and any improvement is welcomed.  But it sure would be nice if the improvement was being felt in every state across the country.  With a 67.9% MiMi Connecticut is definitely not feeling the improvement yet.  But hopefully as the Housing Market continues to improve in other states, we will soon feel the improvement as well.  Follow this link if you would like to see what the Multi-Indicator Market Index (MiMi) numbers are for your state.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Posted by

George Souto
NMLS# 65149

C (860) 573-1308
CALL 7 Days/Wk
Fax (860) 760-6891

Email Me
About Me
My Blog

I am a Mortgage Loan Officer who can assist you with all your mortgage & refinancing needs in
CT, and RI

I can assist you with your Conventional,
FHA, CHFA, VA, USDA, & 203K loan programs.

I reside in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Haddam. E. Haddam, Higganum, Chester, Essex, Deep River.

 

Comments (12)

Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning George,

According to this report the housing market is improving. We definitely know it is in Texas but that is due to the job growth and we never experienced the downturn like others. Not all areas in the country are improving.

May 28, 2015 10:14 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi George... hopefully Connecticut will catch up soon. Here in Charlotte, as you know, this is not news.

May 28, 2015 10:55 PM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

It is CRAZY in my "little" neck of the woods. I'm busy as a beaver and loving it!

May 28, 2015 10:57 PM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Well George, We are getting into summer and that should be good for all of us.

Unfortunately, I don't see any improvment in the underlying conditions needed to have an improving housing market.

Bill Roberts

May 29, 2015 12:17 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

George, hopefully your market will take off and go gang busters for the summer.  

May 29, 2015 08:21 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

George Souto 

Intriguing report! I enjoyed looking at their site. There clearly is a lot of variation around the country, which is not surprising. National news is one thing, local is quite another. Good to hear the overall trend is up.

Jeff

May 29, 2015 11:09 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

George, I was curious as to how our state compared with the national numbers and being at 50% of National we have a long way to go

May 29, 2015 12:11 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi George Souto , We are still seeing hesitation from potential Sellers, still waiting for the home values to increase.

May 29, 2015 01:06 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning George. Love statistics, but living in Connecticut most of them are meaningless as this market is completely different when it comes to improving numbers.

Make it a great weekend!

May 29, 2015 06:42 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George we have been saying all along it is a combination of Employment & Consumer Confidence....we are on the right track but we are not there yet, Endre

May 30, 2015 02:57 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

When I start seeing American People back at work, getting paid better than whenever they left the business world, when I know that Student Loans isn't a life sentence, when I see American businesses in America, and when I can watch regular television and see English speaking programs, I'll believe... until then, I remain skeptical. 

May 30, 2015 06:20 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Hope the gov't doesn't spend zillions studying the obvious.

May 31, 2015 09:32 PM