The Washtenaw County markets, particularly Ann Arbor, have been more dramatically affected by Covid than most neighboring Southeast Michigan markets. Showings and new pendings drop quickly when negative Covid news is reported. Despite the Pandemic challenges, YTD closed units and volume are down by just 9% and 7% and the closed sales gap is shrinking—down from 26% on June 14th. Extreme low interest rates continue to provide great buyer and seller opportunities.
< 1 minute The recent rebound of home sales suggests the pandemic did not derail home buyers. Home price appreciation continues at a solid pace, reflecting fundamental strength in demand and the limited [...]
3 minutes The housing market continues to be a bright spot for the economy with increased interest from buyers for single family housing. If homes continue to sell at the current pace, [...]
2 minutes Inventory The number of homes for sale has slowly declined since June and is down 25% since this time last year. Inventory shortages are more severe for single family homes [...]