Note: This article also appears at Global Economic Intersection here!
From Freddie Mac this is an interactive tool called the Multi-Indicator Market Index or MiMi!
The purpose of MiMi is to allow the user to check-on the health and the stability of the US housing market not only nationally, but on a state by state basis as well!
These are the highlights from this inaugural report as detailed by Freddie Mac:
- The national MiMi value stands at -3.08 points indicating a weak housing market overall. From December to January the national MiMi improved by 0.03 points and by 0.81 points from one year ago. The nation’s housing market is improving based on its 3-month trend of +0.17 points and moving closer to its stable and in range status. The nation’s all-time MiMi low of -4.49 was in November 2010 when the housing market was at its weakest.
- Eleven of the 50 states plus the District of Columbia are stable and in range with North Dakota, the District of Columbia, Wyoming, Alaska, and Louisiana ranking in the top five.
- Four of the 50 metros are stable and in range, San Antonio, Houston, Austin and New Orleans.
- The five most improving states from December to January were Florida (+0.11), Tennessee (+0.11), Michigan (+0.09), Louisiana (+0.07), Nevada (+0.07), and Texas (+0.07). From one year ago the most improving states were Florida (+2.12), Nevada (+1.84), California (+1.26), Texas (+1.06) and D.C. (+1.05).
- The five most improving metros were Miami (+0.11), Detroit (+0.10), Orlando (+0.09), San Antonio (+0.09), and Chicago (+0.08). From one year ago the most improving metros were Miami (+2.54), Orlando (+2.08), Riverside (+1.87), Las Vegas (+1.81), and Tampa (+1.77).
- Overall, in January of 2014, 25 of the 50 states plus the District of Columbia are improving based on their 3-month trend and 35 of the 50 metros are improving
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