According to some new figures released by Freddie Mac, the United States Housing market now may be the strongest it has been in years. Judging by their Multi-Indicator Market Index, it’s hard to disagree. The MiMi, as its called, suggests that our housing market has improved by 35% in comparison to October of 2010. With other recent index’s showing improvement as well, home buyers and seller alike should be heartened.
The index measures the stability of the US’s housing market through a variety of figures: on-time mortgage payments, employment, debt-to-income ratios and home purchase applications. Currently, the housing market is considered to be in the stable range. Its current value sits at 80.3, far below its high of 121.7, but stability and consistency are far better news than the plummeting industry seen from 2008 to 2011.
Currently, 28 of 50 states, as well as Washington DC have values in the stable range. Montana is ranked the 3rd most stable state according to the MiMi.