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ATTOM’s Real Estate Sales Trends for Michigan

Real Estate Sales Trends for Michigan Indicate a Resilient Market

Real estate professionals in Michigan face challenges due to low inventory and rising prices. ATTOM’s real estate sales trends data is a resource that can pinpoint where the best deals are and where the risks outweigh the potential investment.

In the face of the COVID pandemic, Michigan real estate data showed rising home sale prices and more home equity. The number of homes with negative equity is decreasing as home sales and home sale prices drive the value of homes up.

MI real estate trends data
MI foreclosure

Michigan has some of the lowest foreclosure rates in the country after experiencing record unemployment in the summer of 2020. This finding is an indicator of the resiliency of the state’s real estate market.

As is the case in most of the United States, home inventories are low and mortgage rates are also historically low, which is creating high demand and a hot seller’s market. Real estate agents face the challenge finding homes that buyers will consider.

Michigan foreclosure data
Michigan real estate trends data

In Detroit, the largest city in the state, home prices are low, and rentals are showing high returns on investment. The city’s population is shrinking, but there are an increasing number of millennials who are relocating to the city. Demographic changes are causing speculators to consider whether Detroit could become one of the hottest real estate markets for investors.

ATTOM’s real estate sales trends data for the state of Michigan can help real estate agents, investors, buyers and sellers differentiate between high and low risk property market decisions.

Michigan Housing Market Data

ATTOM’s data powers informed decisions on Michigan’s real estate based on quarterly sales trends data such as:

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Annual home price appreciation trends

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Home seller gains
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Decreasing homeownership tenure

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Downturns in cash sales
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Vibrant institutional investor activity

ATTOM’s real estate sales trends data for previous quarters in Michigan are updated as more home sales deeds become available. Data is based on ATTOM’s Home Sales Report.

Discover the following trends for the state of Michigan:

  • FHA, REO Sales
  • Third-party foreclosure auction sales
  • Short sales
  • Total distressed sales

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