Freddie Mac: Austin second-most-stable U.S. housing market

​​​AUSTIN – The Texas capital has the second-most-stable housing market in the country, according to Freddie Mac’s latest Multi-Indicator Market Index (MIMI). ​​

Austin’s composite score of 96.6 is second only to Fresno, Calif., which has a score of 99.4 

The four data sets analyzed in the 100 metro areas include the number of purchase applications to secure conventional loans as a proportion of total housing stock, loan payments as a proportion of income, number of delinquent home loans and employment rate. The healthy range in the MIMI survey is 80 to 120 as a composite and as each of the analyzed categories.

Austin is improving in every category, and there is nothing to indicate a change in those trends. The metro’s weakest score is in the category of purchase applications, at 71.3. This suggests that there is not enough inventory for buyers, particularly in the price range they can afford.

The metro’s highest score is employment with a score of 108.9.

Of the 100 areas surveyed, only 47 ranked in the stable range. The most stable markets other than Fresno and Austin are Honolulu, Salt Lake City and Los Angeles. Texas as a whole posted high scores. ​