Homes Sales On the Rebound

By: Tiffany Teasley Email
By: Tiffany Teasley Email

A four bedroom home in Okemos is just one of only a dozen that Realtor Robert Dowding is showing, that's because he says they're going fast.

"Houses are selling quickly so buyers are having to act quickly on the ones they like," Dowding said.

In fact, Dowding says this June has been his best month in six years of real estate.

"We saw about a 20 percent increase, 21 percent increase from May to June in total units sold for Ingham county," Dowding said.

"This is more than just a silver lining, we're starting to see statistically and anecdotally more sales around the state from all regions," said Bill Martin of the Michigan Association of Realtors.

Martin says home sales are up about 8.3 percent in June of 2009 compared to last year statewide, and he says the rebound is more stable than just the summer rush.

"If you look at the data, every month this year we have had an increase in sales over the previous month, so it's not just a summer trend, this is a trend that's been going on since the first of the year," Martin said.

And these aren't forced sales, Dowding says, a sign that the market isn't just growing, it's getting healthier.

"We're seeing fewer vacant houses, we're seeing more owner occupied houses selling right now," Dowding said.

"People that are traditionally selling their house, it's not in foreclosure, it's not a short sale, and we have buyers now, so that's good news for every segment of the market," Martin said.

But Martin says the average price of homes in Michigan is a different story.

"There is one dark cloud and that is the average price, the average price is down this year over last year," Martin said.

Statewide, home prices have fallen around $30,000 since June of last year.


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