Dec 29

Housing Markets Show Signs of Stabilizing

Housing Markets Show Signs of Stabilizing

 

Housing Markets Show Signs of Stabilizing. Image courtesy of hywards / FreeDigitalPhotos.net

Housing Markets Show Signs of Stabilizing. Image courtesy of hywards / FreeDigitalPhotos.net

A greater number of housing markets are showing signs of normalizing, as 70 of the markets tracked by a Freddie Mac index now move to positive momentum.

Freddie Mac’s latest Multi-Indicator Market Index (MiMi) showed a reading of 74.5 nationwide, which still indicates a weak housing market overall but shows signs of improvement from September to October and an improvement year-over-year.

The index’s all-time high was set in June 2006 when it reached 122.5. Its lowest point was 60.3 in September 2011. Since then, the housing market has made a 23.5 percent rebound, Freddie Mac notes.

The index monitors the stability of the nation’s housing market using Freddie Mac and local market data to gauge the performance of single-family housing markets relative to a long-term stable range. The index tracks home purchase applications, payment-to-income ratios, on-time mortgage payments, and the local employment picture.

In October, 29 of the 50 states and 41 of the 50 metros tracked were showing an improving three-month trend.

“Housing markets continue to heal across the country with those hardest hit showing the biggest improvement,” Freddie Mac Chief Economist Frank Nothaft notes. “Low mortgage rates have helped, but we also need better household income growth. The employment picture needs to improve more to strengthen wage growth. The good news is we’re slowly starting to see this happen in areas like Denver, San Jose, Nashville, and Pittsburgh to name a few, where we’re also seeing better purchase application activity on a monthly basis.”

Thirteen of the 50 states, plus the District of Columbia, now have MiMi values in the stable range. The top five are: North Dakota, the District of Columbia, Montana, Wyoming, and Hawaii. Eight of the 50 metro areas tracked also have MiMi values in the stable range, led by San Antonio, Austin, Houston, Los Angeles, and Salt Lake City.

The states showing the most improvement in their housing markets year-over-year are: Nevada, Illinois, Florida, Rhode Island, and Colorado. On a metro level, the markets showing the largest year-over-year improvement are: Las Vegas, Chicago, Miami, Denver, and Riverside, Calif.

Source: Freddie Mac

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.