Freddie Mac released its latest Multi-Indicator Market Index (MiMi) based on June housing market activity. MiMi numerically details national, state and metro-level market activity to illustrate market stability and instability across the nation.
On a national level, MiMi falls in the healthy range of 85 in June. This is a .08 percent rise from May and a 1.37 percent jump over the previous three months. Annually, the national MiMi is up 5.76 percent.
The Freddie Mac MiMi is calculated using four key indicators: purchase applications, payment-to-income ratios, mortgage health and employment rates. Markets in-range are scored between 80 and 120, while numbers below 80 are considered weak. Scores above 120 are elevated.
In national highlights, South Carolina and the Georgia metros of Atlanta and Augusta reached historic activity levels in June.
The MiMi in Washington D.C. is on the low end of healthy, at 84.9 — up 0.71 percent from May to June. D.C.’s MiMi increased 2.29 percent in the three months prior to June and 4.81 percent year-over-year.
The District is in stable range for every category except purchase applications, which sits at 54.9. However, the purchase application score increased 2.81 percent between May and June.
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Baltimore, on the other hand, scored 82.1 — slightly below the nation’s capital. The Baltimore MiMi was based on weak purchase application and payment-to-income scores, but Freddie Mac considered the market’s current-on-mortgage and employment ratings healthy.
