Real Estate Market Healthier Than It's Been In Years

Posted by John Sabia on Thursday, September 10th, 2015 at 7:32am.

The Freddie Macs Multi-Indicator Market Index revealed local real estate markets nationwide are much healthier and stronger than they’ve been in years. The index - which monitors applications for home purchases, proportion of timely mortgage payments, loan payment to income percentages and the local job employment numbers in all 50 states - is higher than it’s been going back to 2008.

Len Kiefer, deputy chief economist for Freddie Mac said, “Housing markets are the strongest they've been in years with the National MiMi above 80 for the first time since 2008.” He continued, “Nationally, all MiMi indicators are heading in the right direction. Robust homebuyer demand has put total home sales on pace for the best year since 2007 and look for that trend to continue as the MiMi purchase applications indicator remains on the upswing.”

Kiefer stated the real estate market in the West region has been very strong lately, and added many local markets posted double-digit growth in purchase applications as compared to 2014. Findings signal that 28 of 50 states and 42 of the top 100 metropolitan areas have returned to their long-term stable range. Read more on this here.

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