The February 2024 MBS Highway Housing Index provides a comprehensive overview of the housing market in the United States. Here’s a breakdown of the information presented in the image, simplified for the average consumer:

Overall National Index

• The overall national index is at 55, which has increased by 13 points since last month (Month over Month – MoM).

National Buyer Activity

• This measures the level of activity from people looking to buy houses.
• The index is currently at 49 for February 2024, up from 33 in January 2024 and slightly higher than the 47 reported in February 2023.
• A score above 50 indicates that buyer activity is expanding, while a score below 50 suggests a contraction.

National Home Price Direction

• This indicates the general trend in home pricing.
• The index is at 60 for February 2024, suggesting an increase in home prices. It’s higher than both January 2024, which was at 52, and February 2023, at 31.
• Similar to buyer activity, a score above 50 indicates an increase (expansion) in home prices, while below 50 would indicate a decrease (contraction).

Regional Breakdown Each region of the United States is then analyzed in terms of buyer activity and price direction:

• Northeast: Buyer activity index is at 43 for February 2024, with the price direction index at 57.
• Midwest: Buyer activity index is at 51, with the price direction index at 64.
• Southeast: Buyer activity index is at 55, with the price direction index at 76.
• Southwest: Buyer activity index is at 47, with the price direction index at 51.
• West: Buyer activity index is at 60, with the price direction index at 66.
• Mid-Atlantic: Buyer activity index is at 51, with the price direction index at 69.

For each region, the February 2024 indices are compared with January 2024 and February 2023. In all cases, the February 2024 indices are higher than the previous month and year, indicating growth in both buyer activity and price direction across the regions.

The map of the United States is color-coded to represent these regions, showing the geographic areas each region covers.

The source of the data is MBS Highway, and more detailed methodology can be viewed at their website.

In summary, the housing index suggests a growing market with increased buyer activity and rising home prices across all regions in February 2024 compared to the previous month and year.