There Are Signs of a Shift in the Michigan Housing Market

    How is the housing market looking in Michigan? See what this fall holds.

    Want to Buy a Home? Search All Homes
    Want to Sell a Home? Get a Home Value Report

    Things can change so gradually that
    many people do not notice.

     

    Sellers could be chasing prices down, so the question for many is if they should wait until spring to sell a house. It depends on what you think is going to happen in regard to elections, the economy, and interest rates.

    What happens to prices when rates go up? There may be a relationship. According to the National Association of Realtors’ national media manager, if you have rising interest rates over a longer period, then you’ll see a weaker demand. In this case, you may see price appreciation slow down. Keep in mind, today’s interest rate for an adjustable mortgage is 4.25% and 5.15% for an annual percentage rate.

    If you have any questions or would like some more information, feel free to give us a call at (866) 696-8447. We look forward to hearing from you.

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