Category: sellers

Homeownership Rate Continues to Rise in 2020

By

Homeownership Rate Continues to Rise in 2020 So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst … Continued

Three of the Latest Reports Show Housing Market Is Strong

By

Three of the Latest Reports Show Housing Market Is Strong The residential Metro Detroit Michigan real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 1. Ivy Zelman’s Real Estate Broker … Continued

Home Sales Hit a Record-Setting Rebound

By

Home Sales Hit a Record-Setting Rebound With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to … Continued

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

By

Mortgage Rates Hit Record Lows for Three Consecutive Weeks Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this … Continued

What Are Experts Saying about Home Prices?

By

What Are Experts Saying about Home Prices? Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which … Continued

Buyers: Are You Ready for a Bidding War?

By

Buyers: Are You Ready for a Bidding War? With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the Metro Detroit Michigan housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase … Continued

Best Time to Sell? When Competition Is at an All-Time Low

By

Best Time to Sell? When Competition Is at an All-Time Low In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the … Continued

Latest Unemployment Report: Great News…for the Most Part

By

Latest Unemployment Report: Great News…for the Most Part The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from … Continued

What Are Experts Saying About the Rest of 2020?

By

What Are Experts Saying About the Rest of 2020? One of the biggest questions on everyone’s minds these days is: What’s going to happen to the Metro Detroit Michigan housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for … Continued
Call Us!
248-330-4421