Markets & Economy

Detroit, Santa Barbara, Reno are top ‘Turnaround Towns’ ranks metros by changes in median list prices, inventory, inventory age

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

With median list prices up 44.3 percent in the third quarter from a year ago and inventory down 24.5 percent over the same period, Detroit, despite filing for bankruptcy in July, experienced the most significant housing recovery from July to September, according to's third-quarter "Turnaround Towns" report. Detroit ranked No. 7 on's second-quarter report, which ranks metros by the changes in median list prices, inventory and median age of inventory in the listings database. Thanks to's relationship with the National Association of Realtors, that database includes listings from more than 800 multiple listing services, representing 98 percent of all homes for sale. Typically, markets that were hit especially hard during the housing crisis, like Detroit, Reno, Nev., and Las Vegas, have shown strong signs of recovery because they have so much ground to make up. But during the third quarter, relatively stable housing markets like Ann Ar...