Here is some great news about the Metro Detroit Housing Market. This report was just released yesterday by Realcomp Multiple Listing System.
All MLS October ‘09 sales at highest levels since 2004
Lowest on‐market inventory levels in any month since January 2006 (42,785 in October 2009, 48,059 in January 2006)
NonForeclosure Sales Top Foreclosure Sales in Metro Detroit. For the month of October, the total nonforeclosure sales were 3,483 compared to 2,938 foreclosure sales. What are your thoughts about this?
Months supply of inventory (MSI) has dropped by nearly 50% ‐ from 11.9 month supply last year to 6 month supply this year