A new report says Metro Detroit’s foreclosure crisis is improving, but some are refuting the relevance of those numbers.
Metro Detroit home sales were down in September compared to a year earlier. It’s the first such year-over-year decline in a year, and came as a result of a sharp drop in foreclosure sales, according to stats released by Farmington Hills-based Realcomp II Ltd.
About 900 people showed in Oakland County on Monday for an auction of foreclosed properties.
The office of the Wayne County treasurer is planning a September auction of more than 20,000 properties that were subject to tax foreclosure.
Home prices in Detroit and other major cities rose in May from April, a sign of a modest housing recovery.
Both the number of homes sold and home prices in the Detroit area rose in May from year-ago levels, according to the Farmington Hills-based real estate information firm Realcomp II Ltd.
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.