As we continue to work our way through the Pandemic, our Market Research Department monitors daily activity looking for market shifts that affect our clients. Despite recent news of increasing cases of Covid throughout southern states, buyer demand in Michigan remains strong. New sales are…
We have received many questions on how the real estate market is faring as a result of the Pandemic. The good news is the market is strong and following the line we had anticipated at the onset of COVID. For Sale inventories are tight, employment…
When is the economy going to recover? Is this a good time to buy or sell a home? What will happen to home values? Is this going to be 2008 all over again? The real estate market is not business as usual, but we are…
A mix of carry-over demand from last year’s buyers, low interest rates and tight inventory is fueling bidding wars for affordable move-in-ready homes in middle and lower price ranges. Buyers need to act quickly with strong offers. Limited inventory is not a problem in most…
Despite previous signs of slowing markets, 2019 set new historic highs for average sale price, price per square foot and closed volume. Closed units which had been declining since 2016, leveled out and finished even with the prior year. A bullish economy combined with a…
Nearing the end of the year, 2019 has generally been good for Southeast Michigan real estate. Closed sales were even with last year and the average sale price has been up 4%. Monthly inventory levels, which had been falling year over year for over a…
As we head toward the home stretch of 2019, it’s been a good year. While there have been fluctuations within markets and price ranges, YTD sales in Southeast Michigan have been even with last year and inventory and average sale price are both up. If…
Despite the seasonal slowing, year-to-date sales are even with last year and set an all-time high in closed volume—4% higher than last year. The market continues to carry momentum into the fourth quarter that may be slow to pick up in the 2020 election year.…
Through August, year-to-date sales are nearly even with last year and average price is up 4%, yet value changes vary dramatically by area and price range. The Housing Report linked below breaks each market area down into four price ranges, making the numbers more relevant…
In most local markets, inventory levels continue to grow compared to last month and last year. YTD closed sales are only down 1% from a year ago and although most values continue to rise, they are leveling out—especially in most higher-end markets. Pay attention market…