Freddie Mac on Wednesday released its Multi-Indicator Market Index® (MiMi®), showing that many of the nation’s housing markets are getting back to normal heading into the spring homebuying season. However, there are pockets of weakness, particularly in the Great Lakes Region and the South outside of Florida and Texas.
The national MiMi value stands at 82.7, indicating a housing market that’s on the outer range of its historic benchmark level of housing activity, and little changed with just a +0.18 percent improvement from December to January and a three-month improvement of +1.46 percent. However, on a year-over-year basis, the national MiMi value has improved +7.57 percent. Since its all-time low in October 2010, the national MiMi has rebounded 40 percent, but remains significantly off from its high of 121.7.