Freddie Mac recently released a new way to rank the stability of housing markets around the country and for the nation as a whole. With the nickname MiMi, the Freddie Mac Multi-Indicator Market Index℠ uses the historical stable average for each market to compare how that market is doing today.
There were only twelve states that met the criteria for being stable, and Washington D.C. was one of them (even though technically it isn’t a state). It came in second overall, just behind North Dakota and just ahead of Wyoming. However when researchers looked at the top metro regions, our area dropped down to 19th and is considered a ‘weak’ market. Note, this ranking only looks at stability compared to historical trends so that label is not a sign of what to expect this spring.