Freddie Mac: Austin ranks highly as stable housing market

October 26, 2015
Source: 
Austin Business Journal

Austin has the second-most stable housing market in the U.S., according to the latest Multi-Indicator Market Index — a proprietary survey created by Freddie Mac, a quasi-governmental residential mortgage capital source.

The four data sets analyzed in each market include the number of purchase applications to secure conventional loans as a proportion of total housing stock, loan payments as a proportion of income, number of delinquent home loans within the area and employment rate.

Austin's composite score is 96.6 — second to Fresno, California, which has a 99.4 score.

The healthy range in the MIMI survey is 80 to 120 as a composite and as each of the analyzed categories. Freddie Mac also detects which way each score is trending and whether the market is in danger of elevating to a bubble or declining.

In every category, Austin is improving and there is nothing to indicate a change in those trends.

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