Industry News

Realtors give readings on local markets

Part 2: Word-On-The-Street market snapshots

Editor's note: No one knows the local real estate market better than Realtors. In this two-part series, Inman News sought out local insights on what's happening on the ground and what agents think is in store for 2007. (Read Part 1.) David ElyaBroker/owner Realty Executives GroupShelby Township, Mich. How is your market? "It's a great time to buy right now. There's ample inventory to choose from. A lot of buyers are moving up, finally getting the home that they wanted -- a bigger, better home at a better price. It's just taking a little time sometimes to sell their own homes and get those priced fairly." What's happening with prices? "Prices for the most part, over the last year, have probably declined slightly as far as average sale price. It's all relative because the next home that people buy will be a good value as well, so it's really a good time right now to buy a home." What do you anticipate the market will be like next year? "Well, from what I hear about interest rates comi...