Only 10 States Have 'Stable' Housing Markets

NEW YORK (TheStreet) -- Despite the historically busy springtime selling season, the housing market just can't seem to get out of its own way.

The latest example of that comes from the Freddie Mac Multi-Indicator Market Index. The MiMi is showing a national housing market that Freddie Mac describes as "weak" and "flat" compared with one month ago, and especially so compared with the housing sector one year ago.

The report comes at a time the nation's leading economic policymakers are clearly worried about the soft real estate market.

Here's what Federal Reserve Chairwoman Janet L. Yellen, said before a Senate committee May 8:

"With the harsh winter behind us, many recent indicators suggest that a rebound in spending and production is already under way, putting the overall economy on track for solid growth in the current quarter. One cautionary note, though, is that readings on housing activity -- a sector that has been recovering since 2011 -- have remained disappointing so far this year and will bear watching."

Reinforcing Yellen's point is one statistic from the MiMi file: Only 10 of 50 U.S. states are in a "stable" housing market range, with North Dakota, Wyoming, the District of Columbia, Alaska and Louisiana ranking in the top five, according to Freddie Mac.

And only four cities out of 50 measured in the Mimi report -- San Antonio, New Orleans, Austin and Houston are also considered stable by Fannie Mae.

If you liked this article you might like

Unlock the Secrets Behind Bitcoin Investing

Questions You Must Ask a Car Salesperson to Avoid Getting Ripped Off Big-Time

5 Surefire Ways to Destroy Your Marriage

Best States for Retirement in the U.S.

Worst States for Retirement in the U.S.