Freddie Mac's Monthly Multi-indicator Market index watches many significant indicators to benchmark the health of local housing real estate markets across the nation. A recent study found that 43 of 50 states and 95 of the top 100 metropolitan localities are exhibiting an improving three month trend.
Although the real estate housing market is far off from reaching it's previous index high, however, digging deep into the latest numbers show individual markets nationwide are reporting improvement.
Freddie Mac's deputy chief economist, Len Kiefer said the index continues to deliver good news. "It's becoming clearer every month that after several years of local trends largely reflecting national trends, we are getting back to more normal times where local housing markets develop based on their own unique economies.” Kiefer continued, "For example, housing markets in the West and Southwest continue to be the bright spot of the recovery and spring home buying season with strong purchase activity fueled by an improving local economy and job picture. Yet, even within these regions, the Multi-Indicator Market Index shows noticeable difference.”