CBS62logoNEW2013_blue_final_header_White wwj950-sm2011b 971-ticket-35smb 35h_CBSSportsRad_Detroit

Local

Home Sales Spike In Metro Detroit

View Comments
istockphoto

istockphoto

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

DETROIT (WWJ) – Homes are selling more quickly in Metro Detroit. According to new numbers released Monday by Real Comp, the average home is selling in just over three months.

WWJ Newsradio 950 spoke with Real Estate Insider Mark Gilman of MCCI Corp who said it’s all because there are fewer homes for sale — and that could be good news for home prices, if the trend continues.

“Right now I’m gonna go with this as good news because the inventory has been reduced. It’s a really, really good sign. I’ll be happier if I see three months of this,” Gillman said.

“I have my doubts, just because, you know, March numbers are very different from April and May. Because a lot of people wait to put their house on the market until the weather gets better,” Gilman said.

“So, my guess is April and May is going to see a signifficant increase in homes on the market because people wanted to wait through the winter,” he said.

Gilman said  it also remains to be seen whether there will be a new round of home foreclosures.

According to Real Comp CEO Karen Kage, it looks like this spring will be better than last year for selling a home. Kage says in Wayne County, homes are selling even faster — in just under three months.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,884 other followers