The latest numbers on sold properties in the 6 townships that I track are available on my Web sites. I take a weekly look at sales in Milford (Twp and Village), Commerce Twp, Highland Twp, White Lake Twp, Lyon (Twp and City of South Lyon) and Brighton (Twp and City).
Sales of higher end house do seemto be picking up and the percentage of sales that involve foreclosures and short-sales is down below 50%. The average and median sold prices have also been creeping up. Those are good things and show a market that has at least stabilized a lotand one which is poised for a comeback.
I have a gut feel that there is a lot of pent up selling demand by owners who have just been waiting until things stabilized. There is also a rumored "shadow inventory" of foreclosed and pre-foreclosure homes out there that the banks are holding off the market. Those have got to hit the market sometime soon; so, we still have some issues to work through, but things are looking a bit better.
Employment uncertainty is stil holdign back the would-be move up buyers who used to make the market for mid-range houses, so hopefullyt that will also stabilize soon.
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