SE Michigan Housing Report Q1 2019
All,
2019 got off a great start with first quarter numbers that are comparable to last year.
Inventory levels are up compared to a year ago. Buyers have more choices. While first quarter sales are down 3%, average price and price per square foot are up nearly that same amount and closed volume is almost even with last year.
Look for a continued shortage of move-in-ready homes in the lower and middle price ranges. Sharp homes will continue to sell fast and for top dollar. Prices should continue to rise, but at a slower pace and expect upper-end values to be flat as high-end inventory builds up in most markets.
Report-Preview-Q1-19