JC Reindl, Michigan.com12:29 p.m. EST March 3, 2015
Homes prices across Michigan were 9% higher in January than a year earlier, outpacing the national 5.7% rate Michigan experienced the biggest
Michigan's real estate market has continued to improve in the new year.
Homes prices across the state were 9% higher in January compared to the same month a year ago, outpacing the national 5.7% year-over-year increase, according to new housing numbers released today by California-based real estate data firm CoreLogic
The data also shows that Michigan home prices remain 17.3% off their peak reached in late 2005. The nationwide figure was 12.7% below the April 2006 price peak.
The CoreLogic report did not specify actual prices or draw comparisons. The closely watched Standard & Poor's/Case-Shiller Home Price index has home prices in metro Detroit about 41% below the national average.
CoreLogic predicts that nationwide prices will rise 5.3% between this January and January 2016.
Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan. He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods. Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce. You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.
