Freddie Mac released its latest Multi-Indicator Market Index (MiMi) based on June housing market activity. MiMi numerically details national, state and metro-level market activity to illustrate market stability and instability across the nation.
On a national level, MiMi falls in the healthy range of 85 in June. This is a .08 percent rise from May and a 1.37 percent jump over the previous three months. Annually, the national MiMi is up 5.76 percent.
The Freddie Mac MiMi is calculated using four key indicators: purchase applications, payment-to-income ratios, mortgage health and employment rates. Markets in-range are scored between 80 and 120, while numbers below 80 are considered weak. Scores above 120 are elevated.
In national highlights, South Carolina and the Georgia metros of Atlanta and Augusta reached historic activity levels in June.
Houston’s housing market is considered healthy by Freddie Mac, scoring a MiMi of 89, up 0.23 percent between May and June. Over a three-month period, Houston’s score increased 0.56 percent. Annually, Houston’s MiMi is up 1.37 percent.
Houston is healthy in all categories except for purchase applications, where the metro was considered weak with a score of 70.3. However, purchase applications in Houston rose 2.48 percent month-over-month.
