According to Freddie Mac’s Multi-Indicator Market Index (MiMi), Utah’s housing market is ranked #3 in the country thanks to three indicators in the index.
The three positive indicators in Utah are:
- The high number of purchase applications
- A high percentage of home owners who are current on their mortgage.
- And high employment rates
Utah falls short in “payment-to-income” relative to the national average.
The MiMi indicates that Utah’s housing market is roughly the same as it was in late 2003.