Buyers are Tossing in the Towel | Bedford Hills Real Estate
Prospective buyers aren’t even going through the motions of applying for financing as applications for purchase mortgages weakened in May. Most housing markets remain stalled largely markets moved into their stable range of housing activity according to Freddie Mac’s Multi-Indicator Market Index (MiMi).
The national MiMi value stands at -2.64 points indicating a weak housing market overall with only a slight decline (-0.05 points) from April to May and a 3-month trend change of (+0.06 points), which is considered flat. However, on a year-over-year basis, the U.S. housing market has improved by 0.86 points. The nation’s all-time MiMi low of -4.42 was in November 2010 when the housing market was at its weakest.
Thirteen of the 50 states plus the District of Columbia are in their stable range with North Dakota, the District of Columbia, Wyoming, Alaska and Montana ranking in the top five.
Eight of the 50 metro areas are in their stable range with San Antonio, Austin, Salt Lake City, New Orleans and Houston ranking in the top five.
The most improving states month-over-month were Illinois (+0.05), Massachusetts (+0.04) and New Mexico (+0.01) with Arkansas, Colorado, Montana and Ohio all tied (-0.02.) From one year ago, the most improving states remained unchanged: Florida (+1.68),Nevada (+1.60), California (+1.15), South Carolina (+1.14) and Idaho (+1.11).
The most improving metro areas month-over-month were Chicago (+0.04), Riverside (+0.02), and Providence (+0.01) with Boston, Miami, Orlando and Salt Lake City metro areas all tied and unchanged (0.00.) From one year ago the most improving metro areas were Miami (+2.13), Orlando (+1.80), Las Vegas (+1.58), Riverside (+1.53), and Austin (+1.48).
read more....
http://www.realestateeconomywatch.com/2014/07/buyers-are-tossing-in-the-towel/
The national MiMi value stands at -2.64 points indicating a weak housing market overall with only a slight decline (-0.05 points) from April to May and a 3-month trend change of (+0.06 points), which is considered flat. However, on a year-over-year basis, the U.S. housing market has improved by 0.86 points. The nation’s all-time MiMi low of -4.42 was in November 2010 when the housing market was at its weakest.
Thirteen of the 50 states plus the District of Columbia are in their stable range with North Dakota, the District of Columbia, Wyoming, Alaska and Montana ranking in the top five.
Eight of the 50 metro areas are in their stable range with San Antonio, Austin, Salt Lake City, New Orleans and Houston ranking in the top five.
The most improving states month-over-month were Illinois (+0.05), Massachusetts (+0.04) and New Mexico (+0.01) with Arkansas, Colorado, Montana and Ohio all tied (-0.02.) From one year ago, the most improving states remained unchanged: Florida (+1.68),Nevada (+1.60), California (+1.15), South Carolina (+1.14) and Idaho (+1.11).
The most improving metro areas month-over-month were Chicago (+0.04), Riverside (+0.02), and Providence (+0.01) with Boston, Miami, Orlando and Salt Lake City metro areas all tied and unchanged (0.00.) From one year ago the most improving metro areas were Miami (+2.13), Orlando (+1.80), Las Vegas (+1.58), Riverside (+1.53), and Austin (+1.48).
read more....
http://www.realestateeconomywatch.com/2014/07/buyers-are-tossing-in-the-towel/
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