Michigan Housing Market JUST SHIFTED! - Bidding wars, appraisal guarantees, no home inspection, and over asking price was the verbiage headlines used several months ago, today it’s more so along the lines of price reductions, seller concessions, and buyers market, so stay tuned to find out why. The Michigan housing market has been doing quite a bit of shifting over these last few months, Interest rates jumped tremendously, price reductions are becoming more common and homes are sitting on the market longer even though just a few months ago people were offering tens of thousands of dollars over the asking price, saying no to inspections to make their offers more attractive and getting beat out by all the competition in the overflowing buyer pool. Well, today it’s the complete opposite. Bidding wars are becoming uncommon, and sellers are facing reality about what buyers are actually willing to spend for a home on the market. The question to all this is why? Why has the real estate market after a few years of going 100 mph, suddenly slammed on the brakes and laid down the uno reverse card?
Andrew McManamon is a licensed real estate professional in the great state of Michigan. Andrew truly believes that education is KEY when it comes to anything real estate. This audio experience podcast was created to help YOU get educated about the real estate industry and get valuable insight about the areas in which Andrew covers.
If you have any questions about living in Michigan, please don't hesitate to reach out! Call, text or email anytime! Andrew McManamon Real Estate Professional Signature Sotheby's International Realty.
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