Mike's Macomb County Real Estate Blog

July Existing Home Sales Fall

I heard this on the news this morning.It was on the national news. I didn't think much of it at first, ofcourse sales dropped in July from June, the first time buyer tax credit expired! They even said that on the news. So this shouldn't be any huge news, right? Not exactly what I wanted to hear, especially after the positive blog I posted yesterday Metro Detroit, Michigan in Top 10 Housing Markets of the Future! but hey, like I always say ---- the market is what the market is.

But wait a minute, real estate is local right? You bet it is! I was curious as to what the market conditions were for all of Macomb County for July compared to June. So I did some research on my local mls and to be honest, I wasn't sure what the results would be.

  • Higher than the national average?
  • Lower?
  • Somewhere in between?

 

I checked closed residential sales for homes and condos in July and in June. I used a minimum list price of $5,000 to avoid any rental listings. The data came back with 1033 sales in June and 738 in July. That's an approximate 28.6% decline from June to July. And surprisingly that's pretty much the number that NAR reported to the national news.

 

 

Despite these statistics, it's still true that real estate is local.Not all areas are the same. If you want to know the market conditions in your area, contact a REALTOR®. If you would like to know the market conditions in your city or area of Macomb County, MI contact Mike Mitchell - REALTOR®. I'd be happy to discuss them with you.

 

 

Statistics were taken from MiRealSource multiple listing service and are deemed to be reliable but not guaranteed.

 

 

_______________________________________________________________________________________________

 

Looking for a Great agent in Macomb County? Let me GOOGLE one for you. 
 

 Mike Mitchell -REALTOR®                                                               
 Real Living Kee Realty 

 

Call / Text: (586) 291-2652

 

 Email Me

 

http://www.mikemitchell.realtor

Search Macomb County MI Homes for Sale   

                             

 Mike Mitchell - Real Living Kee Realty     

                

Comment balloon 1 commentMike Mitchell • August 25 2010 11:53PM
July Existing Home Sales Fall
share
I heard this on the news this morning. It was on the national news. I didn't think much of it at first, ofcourse sales dropped in July from June, the first time buyer tax credit expired! They even said that on the news. So this shouldn't be… more
Metro Detroit, Michigan in Top 10 Housing Markets of the Future!
share
Finally! Here's some good news for a change when talking about Michigan real estate. Bloomberg is reporting that Metro Detroit is ranked #3 in the Top 10 Housing Markets of the Future Real estate prices are expected to rise 33. 1% over the next 4… more
Are You Ready For Some FOOTBALL?
share
Sorry, this post has nothing to do with real estate. Summer is cruising by and it's almost time for the start of the 2010 NFL season! Here's a look at the schedule for the Detroit Lions I've been a die hard Lions fan since I was knee high to… more
Short Sale Myths of the Week!
share
1) If I have my house listed as a short sale, I can stay in the house as long as I want. FALSE: If your house is in foreclosure, you need to have that home sold before the redemption period expires. In fact, I've seen where the buyers… more