Affordable Housing Becomes Scarce in Traverse City
On May 1, when Governor Gretchen Whitmer signed an exectuive order allowing Michigan’s real estate industry to get back to work, the Traverse City market rocketed. The pent-up high demand for real estate, along with the reconfiguration of social patterns due to remote work created an explosion in real estate demand. However, potential buyers may be priced out of the local market.