U.S. Housing Markets Strengthen

MCLEAN, VA--(Marketwired - Aug 26, 2015) - Freddie Mac (OTCQB: FMCC) today released its updated Multi-Indicator Market Index® (MiMi®) showing the U.S. housing market continuing to slowly stabilize with two additional states, Arkansas and Tennessee, and four additional metro areas entering their outer range of stable housing activity: Omaha, Nebraska; Scranton, Pennsylvania; Chattanooga, Tennessee and Madison, Wisconsin. 

The national MiMi value stands at 80.3, indicating a housing market that is on its outer stable range, while showing an improvement of +1.33% from May to June and a three-month improvement of +2.26%. On a year-over-year basis, the national MiMi value has improved +5.41%. Since its all-time low in October 2010, the national MiMi has rebounded 35 percent, but remains significantly off from its high of 121.7. 

News Facts:

• Twenty-eight of the 50 states plus the District of Columbia have MiMi values in a stable range, with the District of Columbia (101.7), North Dakota (96.2), Montana (93.5), Hawaii (92.9), and California and Utah tied at (89) and ranking in the top five.
• Forty-two of the 100 metro areas have MiMi values in a stable range, with Fresno (96.8), Austin (94.9), Honolulu (93.7), Salt Lake City (91.7) and Los Angeles (91.5) ranking in the top five.
• The most improving states month-over-month were New Jersey (+2.61%), Florida (+2.60%), District of Columbia (+2.31%), Connecticut (+2.26%) and Nevada and Rhode Island tied (+2.18%). On a year-over-year basis, the most improving states were Oregon (+13.59%), Florida (+13.27%), Nevada (12.38%), Colorado (+10.18%), and Rhode Island (+9.32%).
• The most improving metro areas month-over-month were Stockton, CA (+3.48%), Cape Coral, FL (+3.36%), Sarasota, FL (+3.34%), Lakeland, FL (+3.19%) and Tampa, FL (+2.96%). On a year-over-year basis, the most improving metro areas were Orlando, FL (+16.22%), Cape Coral, FL (+16.13%), Portland, OR (+14.57%), Palm Bay, FL (+14.37%) and North Port, FL (+14.33%).
• In June, 45 of the 50 states and 95 of the 100 metros were showing an improving three month trend. The same time last year, 33 of the 50 states plus the District of Columbia, and 80 of the top 100 metro areas were showing an improving three-month trend.

Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer: