Housing Market Stability Improved in November: Freddie

Stability is gradually returning to the housing market following the foreclosure crisis, according to data released Thursday by Freddie Mac.

The government-sponsored enterprise said in a press release that 34 states showed higher levels of stability in November than a month earlier, according to its monthly multi-indicator index.

"Low mortgage rates help keep affordability in-check across many markets," said Len Kiefer, Freddie's deputy chief economist, in a press release. "Labor markets are strengthening, but generally have room for more improvement."

North Dakota, the District of Columbia, Montana and Wyoming had the most stable markets, according to the release.

Freddie's multi-indicator index includes a range of market data, including purchase applications, consumer mortgage payments and local employment figures.