Detroit Home Buyers More Practical As Home Prices Increase

According to Jeanette Schneider, RE/MAX of Southeastern Michigan president, homebuyers are becoming realistic. They’re less likely to waste time looking at homes that do not address their needs. This shift is in contrast to last year when buyers were willing to take what was available out of fear of not getting a house.  Inventory is still limited and prices continue to rise. March’s median sales price was up 10.7 percent from last year. However, the increase is lower than the previous year. The number of sales fell in March by 8.7 percent, but pending sales were up 2.3 percent.