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Real Estate Update | July 2019

Posted by Matthew Hillier on July 16, 2019 in  Real Estate Update
As a result of months of low inventory, home prices continue to escalate throughout Michigan’s housing market — however, real estate professionals are starting to see signs of progress as available inventory begins to grow.Grosse Pointe made up for its unusual decline in closed sales with a 42 unit jump to 92 closed sales in May. Available listings continue to rise — up 12% from the prior month and 21% from a year ago. Additionally, prices have been leveling off and the average sale price is about... read more
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Real Estate Update | June 2019

Posted by Matthew Hillier on June 21, 2019 in  Real Estate Update
Real Estate professionals and economists are sounding more upbeat toward the housing market and Realtor.com® has revised its 2019 housing market forecast, reflecting optimism for a much stronger market as we head into the summer months.Lower mortgage rates are mostly behind this optimistic shift in attitude, with projected rates averaging 4.5% by the end of the year—nearly a percentage point lower than originally forecasted. The lower mortgage rates are increasing buyers’ purchasing power, however, ... read more
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Real Estate Update | May 2019

Posted by Matthew Hillier on May 16, 2019 in  Real Estate Update
Spring is typically the most active season in real estate, however, other than some “unexpected hot spots” as noted by Realtor Magazine, the housing market here across Michigan has been good but relatively stagnant.It's no secret that West Michigan’s housing market is hot. Realtor.com’s housing market forecast for 2019 shows that out of the 100 largest metro areas in the U.S., the Grand Rapids metro area is projected to have the biggest percentage increase – 8.2% &n... read more
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Real Estate Update | April 2019

Posted by Matthew Hillier on April 16, 2019 in  Real Estate Update
Here in Michigan we’re saying goodbye to the winter blues and hello to warmer weather and longer days — officially signifying that the infamous spring market is upon us! Washtenaw County’s red hot housing market began this spring with more new listings. However, the number of sales remained consistent with 683 residential sales compared to 675 sales at this time in 2018. March brought 577 new residential listings, a 13% increase compared to March 2018, according to a new report from the Ann Arbor ... read more
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Real Estate Update | March 2019

Posted by Matthew Hillier on March 15, 2019 in  Real Estate Update
Just like our clocks this past weekend, the Michigan housing market will soon “spring forward”, signifying one of the busiest times in the home buying and selling season. For Michigander’s, harsh weather battered much of the southeast last month, which pushed back market activity, as evidenced by the steep decline in inventory.Michigan’s housing market continues to favor sellers as the number of homes for sale continue to lag behind buyer demand. Although the number of new listings in Oaklan... read more
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