Southeastern Michigan Market Update September 2015

 

When is the Best time to Buy a House?

The Best Day of the Year to Buy a House is a common question.  RealtyTrac completed a very lengthy, in depth study to determine:

The Best Month to Buy is October, The best weekday is Monday,  and the best day was October 8th.  However, these results are an overall average from across US and the best time to buy will vary from market to market.  Read the Entire Article

Southeast Michigan Monthly Market Update - July 2015

With the first half of 2015 in the books, we have been pleasantly surprised with the results. After three years of a recovering housing market, we had expected the market to slow to a more historically normal pace, instead it has accelerated into the summer.  There are some signs that the market is returning to a more moderate and sustainable pace with For Sale inventories beginning to rise and the pace of new sales, although strong, rising at a slower rate.

The spring rush is in full bloom with the market looking very much like last spring, only slightly less hectic. All indicators in May show a strong market as prices are up (7%), new contracts written are up (15%), the number of homes for sale is up slightly (2%) and new listings entering the market are up (4%). As sellers are noticing the strength of the market, they are responding by listing their homes.

Home Prices Heat Up for Spring

 
The following five states posted the highest home price appreciation (including distressed sales) year-over-year, according to CoreLogic’s latest index:
 
Michigan is 3rd at 8.5%
 
Colorado: +9.8%
South Carolina: +9.3%
Michigan: +8.5%
Texas: +8.5%
Wyoming: +8.4%
 

Southeastern Monthly Market Update - January 2015

 

Southeast Michigan May 2014 Market Update

 Here is a snapshot of the market change from April of 2013 using a $200,000 price point. Both are moving in the same general direction but at different paces: the inventory levels under $200,000 show dramatic declines, while the over $200,000 is more modest. A buyer looking in either segment will experience some inventory frustration.

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