Total Number Of Stable Real Estate Markets Doubles

Posted by John Sabia on Thursday, December 17th, 2015 at 12:11pm.

Recent findings from Freddie Mac’s Multi-Indicator Market Index show over the last twelve months, states and metropolitan areas who’s real estate markets have regained their stable activity range has doubled. The MiMi looks at real estate markets across the country and measures houses for sale and condos for sale in these markets against their long-term average to understand how quickly these markets have bounced back.

The study shows the national real estate housing market is reaching the outer limits of stable activity, however, it is still significantly lower than it’s highest level. Freddie Mac’s deputy chief economist, Len Kiefer says markets in general are coasting at their own individual pace. He said, “When we observe MiMi's annual improvement, it's clear housing markets continue to recover with some markets firing on all cylinders, others inching along, and the vast majority still working to get back to their long-term benchmark normal range”.

Mr Kiefer added, “Regardless, nearly twice as many states and metro areas have entered their stable range of housing activity compared to a year ago. Western markets show little signs of slowing down with their local employment pictures continuing to improve and with applications to purchase a home still showing double-digit growth on an annual basis. Real Estate markets in many Southern metropolitan areas are improving which is good news, however, their levels are still not where they need to be.”

photo of housing neighborhood

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John Sabia

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