HousingWire staffer Brena Swanson posts up the latest Freddie Mac Multi-Indicator Market Index (MiMi), which now stands at 81.9, indicating a housing market that is on its outer range of stable housing activity, while showing an improvement of 0.59% from September to October and a three-month improvement of 1.54%.
Swanson notes that on a year-over-year basis, the national MiMi value has improved 6.31%. She writes:
"The strong annual change of 6.31% is the best improvement we've seen in the MiMi on a year-over-year basis since July 2014,” said Freddie Mac Deputy Chief Economist Len Kiefer.
“While strong home purchase applications and rising home values in some markets are contributing to this improvement, its largely more of a reflection of mortgage delinquencies continuing to decline at a steady pace, especially in those hardest hit markets, and a better employment picture overall.”