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We have seen price appreciation the past 2 years in the double digits.  A major reason for this is the shortable of available listings, and it's the reason why many buyers are frustrated by bidding wars in their search for a home.

But we are seeing signs of relief.  Active listings have gone up over the last 4 months, according to Realtor.com.  Historically home listings typically peak in the summer and slow down in the fall.  Last year in 2020, listings peaked in April and then fell throughout the year due to the pandemic.  This year began with record low listing counts, but we've been building inventory the last several months.

We believe listings will continue to increase through this fall and into winter.  Homeowners are feeling more comfortable listing their homes since more people are being vaccinated.  Also experts think the end of the forebearance program will lead to people selling their homes rather than go into foreclosure, since people have gained more equity in the past couple of years.

So if you are in the market to buy a home, don't despair.  New homes are coming to the market everyday.  And we are here to help you find your perfect home in the Metro Detroit area.

Century 21 Riverpointe

734.671.3020

www.C21Riverpointe.com