Current Employment and Mortgages Contribute To Housing Market’s Stabilization Team Thayer Real Estate News
Via: DS News.com Multiple market indicators show solid strong stabilization within housing in June, mostly due to employment and current mortgages, according to Freddie Mac's Multi-Indicator Market Index (MiMi). Housing markets are the strongest they have been since 2008, with the national MiMi surpassing 80 in June. Freddie Mac attributes most of this positive growth to a surge in jobs and mortgages kept current in nearly all metros. "Nationally, all MiMi indicators are heading in the right direction," said Len Kiefer, Freddie Mac deputy chief economist. "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." The national MiMi value reached 80.3 in June, indicating that the housing market is on the outer stable range. The MiMi saw an increase of 1.33 percent from May to June and a three-month improvement of 2.26 pe...