Industry News

Detroit tops for-sale-by-owner list, company says

FSBO company sees 45% increase in listings nationwide

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More homeowners in Detroit choose to sell their homes themselves, without help from a real estate broker, than any other state in the nation, a national survey revealed. An annual survey of home-selling habits released today by independent real estate services company ForSaleByOwner.com revealed that Detroit homeowners were first in such sales, the company said. "Detroiters are known for embracing alternatives that make a bottom-line impact on their pocketbooks," said Colby Sambrotto, COO of ForSaleByOwner.com. "The revitalization of Detroit's downtown district has also caused an upswing in listings in that area." More than 40,000 homes were listed with ForSaleByOwner.com in 2004, an increase of 45 percent over last year. The company reported that 4 percent of the total listings came from Detroit. Dallas, No. 5 in last year's survey, rose to the No. 2 spot this year, with 2.4 percent of "independent" home sellers. Atlanta was No. 3, with 21 percent, New York No. 4, with 2 percent, an...