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