May Case-Shiller Report

Click here for the May Case-Shiller report. It shows that most markets, including the Metro Detroit area, are showing a slowing down of Home value declines to even a flat (and in a few cases increasing) value market for the first few months of 2010. Those numbers reflect the combined effects of low mortgage interest rates, an improving economy, Home Buyer tax credits and reduced available property inventories. Of those, the Home Buyer tax credits had the most influence through April, but the rest helped carry some home value stability through May and June as well. So far in July we are seeing the slowing we had expected, post tax credit, but we will not be able to get a true feeling for the Michigan real estate market until September, once the market has digested the tax credit effects. The good news is our Real Estate One Family's websites are experiencing continual activity growth, showing that underlying buyer interest is growing!