Diminishing inventory and snowballing buyer interest mean higher home values for the City of Detroit.
In September 2017, the number of on-market listings (note: we regularly provide our clients access to off-market property investments) in metro Detroit decreased 28.6% in September, while the number of days a home stayed on the market fell 22% on average.
Further, the Detroit housing market is still “on the rebound,” according to Crain’s Detroit Business.
This is good news for investors who’ve bought already, as well as those who know where to find the greatest value (i.e., where prices and rents are expected to continue to rise).
“I don’t see the market going down,” says David Elya, treasurer of real estate data provider Realcomp II Ltd. “Overall, there is no bubble that is ready to burst.”
Continue to the full Crain’s article.