Wednesday, June 26, 2013

Metro Detroit Left Out of Housing Rise in April

So it turns out that our area here was the only one of the top 20 markets not to see an increase in home prices in April compared to March.  13 of the top 20 saw double-digit gains.  Metro Detroit was flat.

Before we get too upset, however, we should realize that a good part of the reason for that is because we have gone up so much over the last year compared to the rest of the country.  Home prices in this area are up 40% compared to a year ago.  That's huge.  Sadly, they are still down about 35% from their peak in 2005-06.

So the trend is definitely up with room to run.  I'd still call that good news.