Real Estate Prices May Be Stabilizing In Metro Area

FARMINGTON HILLS (WWJ) – The latest report on home sales in Southeast Michigan indicates that the downward spiral might be turning around.

Darrilynn Bowers from “Realcomp” tells WWJ that home sales in December jumped almost 6% in Southeast Michigan.  She says home prices ended 2011 virtually unchanged.

“I think our market is stabilizing, we don’t have as many properties on the market and supply always drives value. If you have low supply you are going to have higher value – so we don’t have huge numbers driving the prices down,” said Bowers.

“Well the median price had a slight change … like 3%  and we don’t really consider that a change, but we were in such a spiral in the past of declining prices so these positive reports are just a blessing to us all,” said Bowers.

She says some counties are seeing double-digit increases in median prices.

Comments

One Comment

  1. rEal estate ct says:

    Property investing a very good idea for all those those people who are searching for the way to commit their funds. nOw’s an ideal time to accomplish your current purchase since …click here

  2. mapWaply says:

    must check Vestidos de noche and get big save

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Christmas Light Displays
Best Holiday Drink Ideas

Watch & Listen