Nearly Half Of All Markets Show Momentum

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Local real estate markets across the country continue to show improvement, with nearly half of all states and metros showing positive momentum according to Freddie Mac’s most recent Multi-Indicator Market Index. The index – which measures the stability of individual markets based on things like payment-to-income ratios, home prices, mortgage rates, and employment – found that residential real estate continues to rebound from a slow summer. Len Kiefer, Freddie Mac’s deputy chief economist, said far fewer homeowners are delinquent on their homes, the employment situation continues to improve, and even home purchase applications are beginning to turn around. In September, the most recent month included in the report, 21 of the 50 states and 21 of the 50 metros tracked by the index showed an improving three-month trend. This upward trend is expected to carry autumn’s positive momentum into next year, despite the fact that the overall housing market continues to be somewhat fragile and volatile from month-to-month. More here.

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