Freddie Mac MiMi Report Is Showing An Improved Housing Market
"IMPROVED HOUSING MARKET???"
When such a miniscule improvement is lauded as a positive indicator about the housing market, that market that drives the U.S. economy, then I know that there's no good news and the report is a classic case of
putting lipstick on a pig.
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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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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
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