Over 60 Percent of Top 100 U.S. Housing Markets Improving

MCLEAN, VA--(Marketwired - Apr 22, 2015) -  Freddie Mac (OTCQB: FMCC) today released its updated Multi-Indicator Market Index® (MiMi®) showing the U.S. housing market continuing to stabilize and getting back on track heading into the spring homebuying season after a slight stumble last month. The latest release of MiMi now tracks the top 100 metro housing markets across the country. Of the top 100 metro areas, 60 percent are showing an improving three-month trend.

News Facts:

• The national MiMi value stands at 74.7, indicating a weak housing market overall and showing a slight improvement (+0.65%) from January to February and a three-month improvement of (+0.30%). On a year-over-year basis, the national MiMi value has improved (+3.53%). The nation's all-time MiMi high of 121.7 was April 2006; its low was 57.4 in October 2010, when the housing market was at its weakest. Since that time, the national MiMi value has made a 31 percent rebound.
• Fourteen of the 50 states plus the District of Columbia have MiMi values in a stable range, with North Dakota (95.7), the District of Columbia (94.8), Hawaii (90.7), Montana (89.2), and Wyoming (85.7) ranking in the top five.
• Eighteen of the 100 metro areas have MiMi values in a stable range, with Honolulu (91.8), Fresno (90.0), Austin (87.4), McAllen, TX (85.9), and Los Angeles (85.5) ranking in the top five.
• The most improving states month-over-month were Oregon (+2.19%), Michigan (+1.71%), Florida (+1.52%), California (+1.35%) and Kentucky (+1.19%). On a year-over-year basis, the most improving states were Nevada (+11.40%), Colorado (+9.60%), Florida (9.14%), Oregon (+8.31%), and Rhode Island (+7.97%).
• The most improving metro areas month-over-month were Detroit (+2.49), Fresno (+2.16%), Portland (+2.09%), New Orleans (+1.69%) and Milwaukee (+1.67%). On a year-over-year basis, the most improving metro areas were Stockton (+14.15%), Las Vegas (+12.28%), Denver (+11.62%), Palm Bay, FL (+11.11%), and Detroit (+10.94%).
• In February, 23 of the 50 states and 64 of the 100 metros were showing an improving three month trend. The same time last year, 46 states plus the District of Columbia, and 92 of the top 100 metro areas were showing an improving three-month trend.

Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer: