Nearly Half of Large Metros Reach Historic Stable Range

Posted To: MND NewsWire

Two Pennsylvania metropolitan areas, Scranton and Harrisburg, won the MiMi seal of approval in August. Freddie Mae said the two moved into what it considers the outer range of stable housing activity during the month. This bring the total of "stable" metros to 47 of the 100 largest ones in the country. Twenty-nine states and the District of Columbia are also within the stable range on the Multi-Indicator Market Index. Freddie Mac constructs the MiMi to monitor and measure the stability of the nation's housing market as well as those of the states and large metropolitan areas. It uses its own proprietary data along with local market data to assess where each single-family housing market is relative to its own long-term stable range. The company looks at home purchase applications, payment-to...(read more)

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