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Press Room

The Housing Market in Southwestern Michigan, Dec 2016

Like climbing a ladder one rung at a time the SWMI housing market has reached the top rung. The housing market in 2016 posted the highest numbers across the board in our year-over-year comparison since 2006. The previous peak year was 2006. Then the housing market began to slide until 2012 when the number of houses sold yearly began to climb. 2016 will now be our new benchmark for a peak market year.

Read more: The Housing Market in Southwestern Michigan, Dec 2016

November 2016, SWMI Housing Market - Continues Record Breaking Sales

In November, the housing market activity continued to break records in monthly and year-to-date numbers and prices. When comparing numbers on a monthly and year-to-date basis, we have looked back to 2006 as our peak year. In 2008 through 2010, we saw numbers and prices decline. From 2011 until now the market has slowly rebuilt itself. If the market continues to surge through December, we may need to realign our trend watch to set 2016 as the new peak year,” stated Philip Amodeo, Association Executive, of the Southwestern Michigan Association of REALTORS®, Inc.

Read more: November 2016, SWMI Housing Market - Continues Record Breaking Sales

November, 2016 - The Housing Market in Southwestern Michigan

In November, the housing market activity continued to break records in monthly and year-to-date numbers and prices. When comparing numbers on a monthly and year-to-date basis, we have looked back to 2006 as our peak year. In 2008 through 2010, we saw numbers and prices decline. From 2011 until now the market has slowly rebuilt itself. If the market continues to surge through December, we may need to realign our trend watch to set 2016 as the new peak year.

At the end of November we were just six houses shy of the number of houses sold in all of 2015 (3296 vs. 3302). This narrow gap was an 8 percent gain over the year-to-date standing in November 2015 (3296 vs. 3050). In November 2016, there were 289 houses sold compared to 222 houses sold in November 2015 for a 30 percent increase. Looking at the number of houses sold in the year-to-year comparison for the month of November and year-to-date, both numbers set new records.

Read more: November, 2016 - The Housing Market in Southwestern Michigan