Michigan’s housing market experienced some highs and lows in 2017. It was a year of highs for sellers, with more money coming in over listing prices and plenty of people buying. The lows came to people buying, who needed to bid high to get even the lowest priced homes. Now let’s start looking at what… Continue reading 2019 Michigan Real Estate Market Predictions
Category: Michigan
Michigan housing market
2015 Michigan Housing Market Predictions
The Michigan Housing Market experienced a slow increase in the first half of 2015. Current reports seem to indicate that the rise will continue even more vigorously for the next year (until mid-2016 and presumably on afterwards). Currently rated as the 13th out of the 50 states, Michigan’s economy is considerably one of the strongest in the… Continue reading 2015 Michigan Housing Market Predictions
2014 Michigan Housing Market
By the end of 2012, prospects appeared mixed for the 2013 Michigan housing market: on one hand, real estate experts remained well aware of the fact that the recession greatly affected the state. On the other hand, the Detroit housing market was poised to make one of the biggest comebacks in U.S. history. So, did any of these… Continue reading 2014 Michigan Housing Market
Foreclosures Rise 18%
The epidemic of foreclosures is rising, according to newly released figures from RealtyTrac, despite a slight slowdown in activity during the month of May. Year over year foreclosures rose 18%. Foreclosure filings, including default notices, scheduled auctions and bank repossessions were reported on 321,480 properties during the month, a decrease of 6% from April. The… Continue reading Foreclosures Rise 18%
2013 Michigan Housing Market
The Great Recession hit Michigan harder than many other states, resulting in massive employee layoffs and the closure of several major auto manufacturing plants. However, the state’s biggest city, Detroit, also known as Motor City, appears to be poised for a remarkable comeback. For one thing, Chinese real estate investors are focusing on the city’s… Continue reading 2013 Michigan Housing Market
Top Housing Market Winners in 2009
You might look at the list of the annual Top Housing Market Winners in 2009 and think twice about some of the winners. But then again it’s been an extremely challenging year in real estate. Home sales in the Top 10 markets got a great improvement towards the latter half of the year with help… Continue reading Top Housing Market Winners in 2009
National Real Estate Prices Forecast to Deflate Further
Scrambling to find a bottom, the U.S. real estate market is falling further and further in most areas of the country. Home prices nationally will deflate an average of more than 8% in 2008, according to the Housing Predictor forecast. The real estate crisis, triggered by an over supply of new creative financing programs and… Continue reading National Real Estate Prices Forecast to Deflate Further
Worst Housing Markets in 2009
The downward spiral in housing markets is showing signs of improving in many areas of the country as home sales rise, but there’s no shortage of double-digit losers in the Worst 25 Housing Markets selected by Housing Predictor in 2009. Without more government assistance don’t expect much more improvement. Detroit, Michigan takes the #1 position… Continue reading Worst Housing Markets in 2009
Home Sales & Prices Jump
By Mike Colpitts Sales of existing homes and national median prices jumped in July to reach a seasonally adjusted annual rate of 4.47 million housing units after declining in June, according to the National Association of Realtors. Record low mortgage rates, which bottomed out in July and lower housing prices coupled with pent up demand… Continue reading Home Sales & Prices Jump
Home Prices Rise 3 Straight Months
By Mike Colpitts Home prices rose for the third straight month in May across the U.S., according to real estate analytics company CoreLogic. On a year over year basis the firm said average prices rose 2.0%, and also increased 1.8% compared to a month earlier. The firm’s Housing Price Index, which tracks 100 of the… Continue reading Home Prices Rise 3 Straight Months