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.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by connie Location: michigan on Jul 29, 2009 at 07:33 AM
    I don't think all counties in mich are selling homes at a high pace.Maybe in bigger cities where some still have work or get paid enough to drive futher.Still some homes have not came down in price enough.So you get an 80,000$ home for 50,000$.The what it is worth says what taxes will be paid on it yearly.Insurance isn't cheap either to cover total loss.What does one have to make to cover a loan payment,taxes,insurances,up keep,utilities,repairs if needed,food,gas to drive,car up keep or replacement of car,or job loss the biggest killer of people dream of owning a home.Followed by a spouse becomming unable to work or passing away.Sales will be made,but how many will loose homes.The system is not got it right yet.Way two many things need fixed.Greed is still out there with tricky bussiness problems.I'm sure alot of people aren't going to run out and buy a home.I'm sure people are being more senseable.There areall kinds of government programs to help but are they a help or hurt for buyer.
  • by sam Location: mich on Jul 28, 2009 at 06:23 AM
    What are the prices on homes selling?Under or over 50,000$?Are alot of these homes fix them up type?Have taxes came down on homes really?Is this type of story saying because homes are selling,prices will start comming up again?Since jobs aren't stable in mich,could buyers loose homes again?Many still are.What areas in mich have the best prices on homes?I see many homes over 100,000 in areas with high unemployment.So many things keep going up in prices,are people bitting off to much responsibility?If the housing market is to recover prices should come down more.Jobs need to be brought to mich.prices of many things need to come down to equal wages,because if wages go up,more companies will leave mich.If health ins are forced on companies how will that work out.Many are paying out all they can.People are not buying all products,hurting the companies.How safe is it to buy a home with a bad economy and job loss still going on?
WILX 500 American Road Lansing, MI 48911 517-393-0110
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 51812502 - wilx.com/a?a=51812502
Gray Television, Inc.