Jun 26

Housing Outlook Remains Healthy

Housing Outlook Remains Healthy

Housing Outlook Remains Healthy. Image courtesy of watcharakun / FreeDigitalPhotos.net

Housing Outlook Remains Healthy. Image courtesy of watcharakun / FreeDigitalPhotos.net

Cincinnati, Cleveland, and Chicago were singled out as the major housing markets with the healthiest outlooks in the nation, according to the latest reading of the Leading Index of Healthy Housing Markets (LIHHM), a report released by Nationwide that evaluates the healthy housing outlook of the U.S. and 400 metro areas.

Overall, the national index remains near its peak at a level over the break-even of 100, which suggests the housing market is healthy with little chance of a national housing downturn over the next year. The latest report showed that markets in the upper Midwest and Southeast were performing the best.

“The employment, household, mortgage market, and house price components of the national LIHHM remained positive with the latest available data,” according to the report. “Housing affordability at a national level is neither undervalued nor overvalued with little sign of a national house price bubble.”

The majority of metro areas are healthy, indicating that few regional housing markets are vulnerable to a housing downturn in the near term. However, Texas and Louisiana had the most negative outlook, with 75 percent of the negatively ranked metro areas in the country being in either of the two states. The report notes that Texas metro areas were down primarily because of overheated markets while Louisiana metros were down because of the impact of the sharp drop in oil prices on jobs and income growth.

Source: “Nationwide’s Health of Housing Market Report,” Nationwide.com (June 2015)

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