The Michigan Housing Market Is SINKING!

The Michigan Housing Market is SINKING. Over the last couple months, headline after headline shows frustration, discouragement and most importantly raises the question, what is going to happen? Well, stick around because I’m going to touch on just that.

Just simply typing in Michigan Housing market 2022 in Google, the headlines don’t exactly give off a good feeling. Home prices are still skyrocketing, will prices go down? Don’t expect prices to go down, and a bunch of forecasts filled with statistics that are completely off the charts.

Michigan home prices have continued to hit highs over the last few months, despite the drastic mortgage rate increase, and housing inventory is still extremely low, even though the most popular time to list a home is during the summer (now).

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0:00 Michigan Housing Market
1:31 Michigan Housing Stats
1:54 Mortgage Rate Affects
2:25 Housing Market & Inflation
3:21 Rising Foreclosures
4:25 Housing Market History
5:37 Housing Market Advice
7:36 Buy A House Now or Wait?
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Andrew McManamon is a licensed Real Estate Professional with Signature Sotheby's International Realty. All the information presented throughout his videos are based on current or prior experiences, and serve as educational purposes only. Please consult with a local real estate agent, real estate attorney and/or mortgage lender to see if this information is applicable to your situation.