This is Why House Prices Are Going Up in Michigan
House prices are going up on the west side of Michigan (and from what I'm told, this is true throughout the state) due to a shortage of labor and available residential lots. According to MLive.com, the result is, builders are using what labor and sites they have to build bigger, more expensive homes.
On the plus side - if you're a first time home buyer, and you don't need to be in a new home, it's actually easier to buy a home around here, than it is in a lot of other places.
Bob Filka, chief executive officer for the Michigan Home Builders Association says the lack of affordable new houses is statewide, saying, "the average Michigander can't afford what's out there right now."
So, if you're thinking about moving, either out of the area, or just downsizing, your existing house may be going up in value.
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