The overall market in December continued the trend of sales growth for the second half of 2014, but at a slower rate. December’s new sales contracts picked up in all price ranges after a lull in November. For Sale inventories continue to fall in the under $250,000 category, while rising in all price ranges [...]
The biggest overall trend for 2015 has been the awakening of the listing inventory. Across most all markets and price ranges inventories have risen over 2014. While still low by historical standards, increased inventory is bringing some relief to buyers frustrated by so few choices in the market. So far this year has had [...]
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 [...]
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 [...]
In April, the market heated up even more than we had expected. With For Sale inventories rising through the winter and into the beginning of 2015, it looked like the market was becoming more balanced. To some degree it has settled compared to last spring, but the buyers are coming out full force as [...]
The first quarter of 2015 followed what we had expected for Southeast Michigan with improving numbers over last year in most categories. The jump in sales and new listings entering the market was due to a combination of a stronger buyer demand going into 2015 and a milder winter. Although this winter was no picnic, [...]
Both January and February moved as expected, jumping up in most categories compared to last year. Buyer demand going into 2015 is stronger than last year, however, the large jump in newly written contracts (Pending Sales) is a bit deceiving. A good portion of that jump is simply the difference between a more (relatively) normal [...]
The month of January in the Detroit metropolitan area followed the pattern we had expected with written contracts up 18% over January 2014. Much of the jump was weather-related. Last January written contracts were off 18%, so the better weather this winter (relatively speaking) brought sales back to a normal level. Compared to January [...]
