Looking to buy a home this spring? It could be a tough prospect.
A report from RealtyTrac shows the number of foreclosure properties in Michigan dropped 11.5 percent from February to March.
Home prices fell in December for a fourth straight month in most major U.S. cities as modest sales gains in the depressed housing market have yet to lift prices.
Home sales in January rose 10.4 percent from a year earlier across the 10 eastern Michigan counties tracked by the Farmington Hills-based real estate information firm Realcomp II Ltd. And prices turned up in several counties.
ales are up…prices have stabilized. That’s the bottom line of the latest report on home sales in Southeast Michigan
Over the past 12 months, prices have fallen in all but two cities: Detroit and Washington.
Across the nation, sales of new homes fell to a six-month low in August. But Michigan is defying the national downturn.
In Michigan, foreclosure-related sales accounted for about 41% of all sales in the state during the second quarter.
Prices in three metro areas hit the hardest by the housing crisis – Detroit, Las Vegas and Tampa, Fla. – fell to their lowest points since the recession began.
Fewer homes for sale and fewer days on the market. That’s the word from the real estate reporting agency Real Comp.
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