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U.S. Home Prices Increased in October
/in National /by Tracy WillisThe S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, increased 18.4 percent in October from a year earlier. This was a slight deceleration from the 19.1 percent increase noted in September. All 20 cities noted on the price index recorded double-digit gains with Phoenix, Tampa and Miami leading the pack. Low mortgage rates and low home inventory, along with high consumer demand, have strengthened the housing market. Chief economist of Realtor.com predicts that the price growth will slow but continue to go up as the year progresses. Mortgage rates fell again last week, signaling concern about the omicron variant depressing economic growth.
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Ford Land CEO Says Goodbye
/in National, SE Michigan /by Tracy WillisDave Dubensky, the CEO of Ford Land and the man responsible for the Michigan Central Station deal, is ending his five year tenure. He pushed for change and implemented a plan to transform company property in Michigan, throughout the U.S. and around the world. Ford Land manages a total of 240 million square feet of real estate. According to Dubensky, Ford Land focused on modernizing and elevating experiences for global employees that walk through the door of any Ford building in an effort to retain and attract talent.
The Housing Market May Be Calming Down
/in National, SE Michigan /by Tracy WillisExperts say the housing market is may be approaching normalcy for 2022. Home prices should continue to rise, but the pace of the increase will be slower than the last two years. Buyers will continue to outnumber sellers which means home inventory will remain low. Jeannette Schneider, president of RE/MAX of Southeastern Michigan predicts that home values will increase 8-10 percent in 2022. Other experts say models suggest that in October 2022, prices will be 12.8 percent higher than the the year before. The going will continue to be rough for first time home owners.