Freddie Mac reports that, based on its Multi-Indicator Market Index, the U.S. housing market continues to stabilize, as 60 of the 100 top metro areas tracked showed an improving three-month trend.
According to the data, the most improving states month-over-month are Oregon, Michigan, Florida, California, and Kentucky. For a year-over-year basis, the most improving states are Nevada, Colorado, Florida, Oregon, and Rhode Island.
"By adding an additional 50 metro markets to the monthly MiMi we are able to capture greater insights into what's moving local housing markets heading into the spring homebuying season,” says Freddie Mac Deputy Chief Economist Len Kiefer.
“The good news is after a slight stumble last month, nearly 60 percent of all markets are improving. Also, of the top 100 metro areas, over 60 are showing purchase applications up from the same time last year with over 20 of those metro areas showing double-digit percentage increases."