Michigan Seeing Fastest Comeback

It's becoming old news that the housing market and economy are slowly displaying improvements nationwide. However, Michigan, by far one of the most troubled states during the recession, is experiencing a more rapid comeback than many other states across the country.

Michigan home sales were up 10% through June compared to a national growth rate of only 5% (National Association of Realtors). Home prices have also seen a steady increase, spurring more homeowners to consider selling where-as they might not have considered it even a year ago. Home prices in the Detroit area rose for the twelfth consecutive month according to Standard & Poor's Case-Shiller index.

The housing market is not the only area that Michigan is showing a positive shift. Economically, the state has begun to  see other areas of recovery. In April and May, Michigan's retail sales grew while nationwide they fell .2 percent. The Michigan Retailers Association reported that more than half of the Michigan retailers who responded to their inquiries showed rising sales in May, the highest sales month since January. Business investors also remain hopeful according to a survey conducted by Wayne State University and Institute of Supply Management, which found that many southeast Michigan purchasing managers expect the business environment to improve or, at least, remain stable. 

Considering the steadily improving economy and housing market, now is a great time to buy or sell a home. If you live int the East Lansing or Lansing areas and would like information about current market values or homes for sale, please contact me at MyRealtorRob. I also specialize in the sale and acquisition of licensed rental property so please feel free to contact me by email for information about East Lansing rental housing.