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February 2017 - Making Millennials Move

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 51 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T DATA AROUND THE U.S. *The national MiMi rankings are based on how close a state came to meeting its historical benchmark of 100. Source: December 2016 Freddie Mac Multi-Indicator Market Index The West Runs The Show Housing Index Shows Improvement Across the Nation, Especially in Western States T he December Multi-Indicator Market Index (MiMi) by Freddie Mac detailed the stability of housing activity across the nation's housing markets. The analysis revealed that Colorado (1), Utah (2), Hawaii (3), Idaho (4); and Oregon (5) ranked the highest in home purchase applications, payment-to-income ratios, employment, and proportion of current mortgage payments. MiMi monitors and measures the stability of the nation's housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets, according to Freddie Mac. The rankings are based on how close a state came to meeting its historical benchmark of 100. Freddie Mac Deputy Chief Economist Len Kiefer detailed the report from a national level. "The National MiMi stands at 86.4, a 5.88 percent year-over- year in- crease, but still below its historic benchmark normalized to 100," he said. "The pur- chase applications indicator is up nearly 20 percent from last year and is reflected in the recent better-than- expected existing and new home sales purchase data." Rank State National MiMi Average* 1 Colorado 98.6 2 Utah 101.5 3 Hawaii 98 4 Idaho 97.2 5 Oregon 96.8 6 North Dakota 96.2 7 Montana 96.1 8 California 94.6 9 Texas 94.6 10 Massachusetts 94.5 11 Washington 93.1 12 South Dakota 90.1 13 Louisiana 89.6 14 Vermont 88.9 15 New Hampshire 88.6 16 Tennessee 88.3 17 Maine 88.2 18 Arkansas 87.9 19 Alaska 87.8 20 Florida 87.2 21 Arizona 86.9 22 Rhode Island 86.4 23 Pennsylvania 86 24 Wisconsin 84.4 25 Wyoming 84.3 26 West Virginia 84.2 27 South Carolina 84.1 28 Minnesota 84 29 New York 83.4 30 Michigan 83.3 31 Mississippi 83.2 32 Iowa 83.1 33 New Jersey 82.9 34 Maryland 82.5 35 Nebraska 82.5 36 Kentucky 82.3 37 Indiana 81.6 38 Kansas 81.5 39 Missouri 81.1 40 Alabama 80.4 41 Georgia 80 42 Oklahoma 79.6 43 Ohio 79.5 44 North Carolina 79.1 45 Delaware 78.7 46 Illinois 78.5 47 Virginia 77.5 48 Connecticut 77.2 49 Nevada 72.8 50 New Mexico 72.8

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