Detroit Metro Real Estate Market Update for Fall 2014

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Detroit Metro Real Estate Market Update for Fall 2014

Thanks for joining us again. We are excited to bring to you another
market update for Metro Detroit. We have been seeing some exciting
trends lately that have us very excited for the present and the
near future. 

One great trend we have seen from the past month is that interest
rates are holding steady at historic lows. This is a great sign,
as rates have remained steady for 40 days now. This has resulted in
a continuation of buyer interest as we head into the fall, which is
great for home sellers. 

For home buyers:

We are seeing sellers continually trying to take advantage of
the fact that we are in a buyers market and have such low
interest rates. Homes are continually being put on the market,
making our market very even-keel. 

Home prices aren't going up or down right now, but most
economists are predicting a 2-4% average price reduction in the
next year. 

You want to purchase now if you are ready as opposed to
waiting until next spring. Even if the average price is lower,
the expected rise in interest rates will offset the savings,
and actually make a home more expensive. 

For home sellers:

You do want to have your property on the market this fall and
through the new year while interest rates are low and before they
creep up.

If you have any questions about the market, or what you need
to do in order to have a smooth transaction, give us a call or
shoot us an email. We'd be happy to answer any questions you may
have.