The real estate market in Michigan is booming right now, with listings receiving many bids and selling at higher than asking prices in just a few days. In many communities in Michigan, sales are at a record pace, with homes in the Dearborn area remaining on the market for 13 days in June, up from 28 a year earlier, according to real estate data. Realcomp…
This trend in Michigan is reflected throughout the country. The national market has reached what the National Association of Realtors called “Crisis level” this year. Research titled Housing – Critical Infrastructure, found that the United States is experiencing a “shortage for construction” of about 6 million housing units, dating back to 2001.