Real Estate Market Update
State of the Detroit Metro Malls
Metro Detroit mall vacancy rates have dropped in recent years
Rents per square foot are increasing, suggesting growing demand for space
Home prices up
Home prices continue to go up while sales have slowed down some in the overall market. Prices have gone up by about 2.8% overall as a courtesy of the high demand and low inventory.
In the Dearborn area, prices have gone up 7% and they are expected to continue rising in 2019. However, more homes on the market are expected this year which could make it easier to purchase a home.
Buying your first home
Home prices are expected to increase next year while inventory continues to be small. Experts believe that loans could cost more and the housing market will spike next spring.
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The price of homes has stabilized and more homes are on the market this month. If you are looking for a home, this is the time to buy. Call
313-819-0101 today for more information.
The housing market across America
Office market in Metro Detroit continues to improve and more space is needed as companies target the area.
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Unclaimed property website
New unclaimed property website started this week. The state is providing the site to help property owners claim lost properties.
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We have several clients looking for homes in the Dearborn and Dearborn Heights area. If you have a home for sale, call
313-819-0101 for a free analysis.