Market Conditions in Detroit>Question Details

dennismclamo…, Other/Just Looking in Detroit, MI

Why is the market so low in S.E. Michigan

Asked by dennismclamore, Detroit, MI Wed Apr 25, 2012

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Dennis, I'm not sure what it is that you are asking. Contrary to outside opinion, the market, at least in wetsern Wayne County is hot right now. We are experiencing a shortage of inventory with an abundance of buyers. Most homes are getting multiple offers and selling within a few weeks and at times just in a few days.
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0 votes Thank Flag Link Wed Apr 25, 2012
I don't quite see how a market can be low. Are you wondering if the market in S.E. Michigan is feeling depressed?

The area has seen a persistent drop in both employment and in turn, population, from systemic shifts in competitiveness. It's in recovery, but without enough residents, the real estate market there has little to drive it.
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0 votes Thank Flag Link Wed Apr 25, 2012
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