RE/MAX of Southeastern Michigan today launched the RE/MAX Housing Report, a monthly report covering housing market trends for Livingston, Macomb, Oakland, and Wayne counties. Each month, RE/MAX will track home sales, median sales prices, days on the market, and housing inventory for the southeast Michigan region.
- The report will be distributed on the 15th of each month. The data comes from the local MLS and reflects all housing activity in the region.
- Findings from the first RE/MAX Housing Report include:
- May home sales increased 5.3 percent throughout the region compared to April. Wayne County saw the largest increase at 12.2 percent, with Macomb County logging an 8.2 percent decrease.
- Median home prices also saw 11.2 percent increases throughout southeast Michigan, with Macomb County leading with a 13.3 percent increase in home prices.
- The average home is currently on the market for 33 days, and time on the market continues to decline.
- Housing inventory increased slightly throughout May and is currently at a 2.3-month supply.
Southwest Michigan is still below the national average of a 2.6-month supply of housing, and a 6-month supply is considered a balanced market.
“We are very excited to launch the RE/MAX Housing Report in southeast Michigan,” says Jeanette Schneider, vice president of RE/MAX of Southeastern Michigan. “With more than 900 sales associates and more than 50 offices throughout metro Detroit. … We look forward to sharing the latest market trends and insights each month.”
RE/MAX of Southeastern Michigan covers Macomb, Monroe, Oakland, and Wayne counties.