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August 26, 2015

U.S. Housing Markets Strengthen

Research and Analysis
MiMi June Info

The newly updated Multi-Indicator Market Index® (MiMi®) shows the nation's housing markets are getting back on track. 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. With the latest release, two additional states, Arkansas and Tennessee, and four additional metro areas entered 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 the outer range of stable overall, 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. 

Top performing MiMi markets this month:

  • 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.
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