Home Sales Spike In Metro Detroit

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.

Comments

One Comment

  1. chenacross says:

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    Bringing change to get more efficacy and efficiency in work is the need

    of an hour especially in constructions where in people expect most

    advance things done for them.

    In that case Increase in the home sale will be profitable as compared

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    New Homes Glen Allen

  2. chenacross says:

    “Change is the only constant thing in the world. As the world is getting

    more and more advanced we have to make amelioration in the work we do.

    Bringing change to get more efficacy and efficiency in work is the need

    of an hour especially in constructions where in people expect most

    advance things done for them.

    In that case Increase in the home sale will be profitable as compared

    to last year. Sounds good for both potential buyer and seller.

    New Homes Glen Allen

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