Dive Brief:
- The U.S. housing market is continuing to stabilize, Freddie Mac said last week.
- For the third month in a row, the organization’s Multi-Indicator Market Index showed a slight improvement in the national housing market, with 15 states and the District of Columbia reporting values in the “stable” range. Thirty-four states weighed in with higher levels of stability in November than in October.
- States with the most stable housing markets in November were North Dakota, Montana, Wyoming and Hawaii. The District of Columbia rounded out the Top 5.
Dive Insight:
Despite the positive news, Freddie Mac Deputy Chief Economist Len Kiefer acknowledged the market has “room for improvement,” especially in areas with economies that are highly dependent on energy production, which is waning.
Still, he said, the numbers show the U.S. housing market is “getting back on track.”