Local Real Estate Markets Gaining Strength

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Freddie Mac’s Multi-Indicator Market Index looks at the market for single-family homes in the top 100 metro areas and all 50 states. By comparing current data in each market to its long-term stable range, the index determines the strength or weakness of local housing markets across the country. According to the most recent results, just over half of all states are now in their stable range and 43 of 50 are showing an improving trend over the past three months. The news is further proof that real estate markets across the country are gaining strength. “We saw a significant improvement in housing markets nationwide, with ten more metro areas and nine more states moving within range of their benchmark, stable level of housing activity,” Len Kiefer, Freddie Mac’s deputy chief economist, said. “The West and Southwest areas of the country continue to lead the way, especially Colorado, Oregon and Utah, and California is right there as well. Unlike a year ago, when the most improving markets were those hardest hit by the Great Recession, we’re now seeing stable markets among the most improving as well. So the strong housing markets are getting stronger, which reflects the better employment picture, rising home values, and increased purchase activity in these markets with the spring home buying season in full swing.” More here.

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