South Florida Housing Market Improving
The housing market in South Florida still has plenty of room to recover, but it is one of the most-improved metro areas in the nation, according to a report Friday from mortgage company Freddie Mac.
The August Multi-Indicator Market Index showed South Florida — including Miami-Dade, Broward and Palm Beach counties — scored a 69.2, an increase of 11.43 percent from a year earlier.
Only Las Vegas (21.53 percent), Chicago (13.98) and Riverside, Calif., (11.99) had higher rates of improvement. Orlando was fifth at 8.70 percent.
Freddie releases the MIMI report each month to measure four key factors in local housing markets: home purchase applications, affordability, mortgage delinquencies and employment. A score below 80 shows weakness, Freddie says. A perfect score is 100.