The most recent results of Freddie Mac’s Monthly Multi-Indicator Market Index – which monitors several key indicators to gauge the health of local housing markets across the country – found that 43 of 50 states and 95 of the top 100 metro areas are showing an improving three-month trend. Overall, the housing market has a way to go before it matches its previous index high but a closer look at the numbers finds individual markets across the country registering improvement. Len Kiefer, Freddie Mac’s deputy chief economist, said the index continues to deliver good news. “It’s becoming clearer every month that after several years of local trends largely reflecting national trends, we are getting back to more normal times where local housing markets develop based on their own unique economies,” Kiefer said. “For example, housing markets in the West and Southwest continue to be the bright spot of the recovery and spring home buying season with strong purchase activity fueled by an improving local economy and job picture. Yet, even within these regions, MiMi shows noticeable difference.” More here.