Areas of Michigan that are dependent on manufacturing are seeing declines in home sales and home prices that, because they are driven by underlying economic fundamentals like job losses and outmigration, may prove to be more long lasting than slowdowns in other parts of the nation. Home sales in Michigan are down 12.9 percent from January through July compared to the same period in 2005, the Michigan Association of Realtors reported, while the average home price for the first seven months of the year is about 0.78 percent below the average price for the same period in 2005. The Detroit Board of Realtors reported a 7.4 percent drop in the average home price and an 8.9 percent rise in home sales from January to July this year compared to the same period in 2005. The Flint Area Association of Realtors reported an 8.87 percent decline in average home price and a 16 percent drop in sales for the first seven months of the year compared to the same period in 2005. The average sales price of...
by Andrew Wetzel | on Mar 22, 2017
by Gill South | 21 hours
by Brad Inman | 3 days
by Andrea V. Brambila | 1 day
by Brad Inman | on Mar 21, 2017