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MGIC: Realty Markets Strong.
Mortgage Guaranty Insurance Corp.'s national Market Trends Index did not change between the third and fourth quarters of 2003, remaining at 6.58.
The index is a barometer of single-family real estate market conditions, with 1.00 being a weak market with no signs of improvement and 10.00 a strong market with no signs of deterioration.
If the index is between 6.00 and 8.00, the market is considered stable.
In creating the index, MGIC's credit policy department looks at three-month market data from 73 Metropolitan Statistical Areas.
The fourth-quarter number continues a downward slide for the index. The MTI for the fourth quarter of 2002 was 6.70 and for the year before it was 6.92.
San Jose, Calif., is the only market currently rated weak. There are eight markets listed as soft: Austin, Texas; Buffalo, N.Y.; Detroit; Indianapolis; Rochester, N.Y.; San Francisco; Salt Lake City; and Tulsa, Okla.
At the other end of the spectrum, there are six strong markets, three of which are located in Southern California: Orange County, Riverside-San Bernardino and San Diego. A pair of markets are located in central Florida: Orlando and Tampa. The final strong market is the nation's capital, Washington. The remaining 58 markets ...
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...breakfast at 6:45 a.m. at the San Bernardino Golf Club, 1494 S. Waterman Ave...reservations. --The Rotary Club of San Bernardino will hold its weekly meeting at noon at the San Bernardino Radisson Hotel, 295 N. E St. The...
Source: HighBeam Research, MGIC: Realty Markets Strong.