Freddie Mac: Nearly 80 Percent of Top 100 Housing Markets in the U.S. Improving
On Wednesday, Freddie Mac released some good news for individuals and families living in some of the country’s most popular metro markets.
According to the mortgage company, the U.S. housing market is continuing to stabilize nationwide, and nearly 80 percent of the top 100 housing markets in the country – including Portland, San Jose and Nashville, among others – are steadily improving.
“The West and Southwest areas of the country are showing some of the strongest housing activity, especially markets like Portland, Denver, Dallas, San Jose and Los Angeles,” said Feddie Mac deputy chief economist Len Kiefer. “Many markets in the South and Midwest, while improving, are still plagued by high rates of mortgage delinquencies, which are holding back these markets from recovering faster. The exception to this would be the Nashville-area market. It more closely resembles the housing markets in the West, such as those in Utah. These markets are experiencing double-digit annual growth rates in purchase applications and showing some of the strongest homebuying demand in the country.”
Image via flickr/Michael Silberstein