Freddie Mac ranks Portland as the most improving housing market in 2015
Freddie Mac says there are 5 metropolitan areas, including Portland, that are out-pacing the rest of the country this year.
Those at the top include:
1. Portland, OR
2. Riverside, CA
3. San Jose, CA
4. Nashville, TN
5. Baton Rouge, LA
Yes, you read that right. Portland metro housing market is the leading improving metro area in the country right now. Freddie bases its statistics on what it calls the MiMi (Multi indicator market index). According to Freddie, the MiMi hit a high of 121.7 in April 2007, while it hit its low of only 57.4 in October 2010. Since then the housing market has rebounded approximately 31% and nationwide currently stands at 75.4%. That is still considered a weak housing market by Freddie Mac standards, but Portland now sits at 80.5% which is considered the low end of what Portland’s range should be. Still, we are a hot market, so that standing should continue to improve as we move into the summer months, typically the “busiest season” housing season of the year.