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Seasonal Stumble in Housing Market -Freddie Mac

Freddie Mac said today that housing
market stability “stumbled a bit” due to the cold winter weather and softening
economic growth.  The company’s
Multi-Indicator Market Index (MiMi) declined slightly in January a decline described
as broad-based rather than concentrated in just a few state or metropolitan
markets.  Despite the lower MiMi index,
Freddie Mac’s economists said that “an improving labor market and attractive
mortgage rates continue to promise a strong spring homebuying season.”

The national MiMi value declined a
slight 0.20 percent from December to January to stand at 74.6, indicating a
weak housing market overall
.  In addition
to the month-over-month negative change there was a 3-month decline of -0.37
percent.  On a year-over-year basis, the
U.S. housing market has improved by 3.39.

 

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