Sunday, April 27, 2014
Housing Market Goes Boom
That's "boom" in a good way, as in booming. Not boom as it was in 2007 when the market blew apart.
Yesterday I posted a video that now was a good time to buy your first home. Well, I did not promise it would be easy.
Metro Detroit home prices have gone up, houses are selling fast for near-full price, there are a lot of cash offers, and sellers are loving it. Also loving it are builders, who are ramping up new construction to soak up the increased demand, particularly on the high end of the market. All this according to the Free Press today.
Great for sellers, not so great for buyers, and good for owners who are doing neither.