Posts Tagged home prices
Today we are releasing our real estate market metrics report for December 2012.
- The unemployment rate in Michigan has been mixed over the last several months and it currently stands at 9.1%
- Foreclosures are on a clear downward trend down 53% year-over-year
- Case-Shiller is reporting that home prices are up in 18% in Metro Detroit over the last 5 months
To see the full report: 2012-12-06 – Michigan Real Estate Economic Indicators
- US Auto sales for 2011 were up 9.5%
- The unemployment rate in Michigan is continuing its downward trend dropping to 8.5% in March.
- Foreclosures are continuing their downward trend down 36% year over year.
- Home prices are on a downward trend over the short term, but prices are generally flat since 2009.
From the graphic you can see that Michigan is among 11 states in the US that did not see a drop in home prices between December 2011 and December 2012. This matches what we’ve seen in other indicators support the conclusion that the real estate market in Michigan is bottoming.