The state and city of Denver housing markets kept increasing over the past year, according to a new report.
On a year-over-year basis, Colorado was the nation’s second-highest state for various housing indicators, according to the latest Freddie Mac Multi-Indicator Market Index (MiMi).
Freddie Mac said the MiMi index uses four criteria: at home purchase applications; payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income); proportion of current mortgage payments in each market; and the local employment picture.
Colorado’s MiMi index improved 11.59 percent on a year-over-year basis, behind only Oregon (up 12.28 percent) nationally.
Denver’s MiMi index improved 14.02 percent on a year-over-year basis, behind only Orlando, Florida (up 16.85 percent) nationally.
Nationally, on a year-over-year basis, the MiMi value improved 5.76 percent, according to Freddie Mac.
Yesterday, seven cities in Colorado were in the top 25 nationally, with Thornton ranking No. 8, according to WalletHub’s “Best Real Estate Market” report.
Ben Miller contributes to the Denver Business Journal and compiles the Morning Edition email newsletter. Contact him at email@example.com.
By: Ben Miller