Homes In Mid Michigan Up 12% Since Start Of Pandemic
The American dream is to have our dream home, and if you remember 2008 it was when many people in the U.S were walking away from their homes. I remember it was really bad in the Phoenix, Arizona area. Just like the pandemic a time many Americans want to forget.
Buying a home today is really tough, because there is so little inventory everywhere and especially here in the Mitten.
If your putting your house up for sale soon, you are in luck, and should be able to cash in big time. I know myself, and many others have been spending a lot more time at home this past year since the start of the pandemic. The first month of it, I rarely left the house. People looking a for a new home in mid Michigan are gonna have a hard time finding one, and there will be a good chance you will overpay for it. You better be quick to pull the trigger.
The average sale price for a home in the Mitten in the first months of 2021 was $21,840 higher than it was at the start of the pandemic, an increase of more than 12%. The increase in prices is "mostly the low inventory and there are more buyers than sellers. People out there that want to sell their houses, but in turn, where do they go?
Another Dilemma is the shortage of homes is due to the number of people wanting to buy bigger, and better houses. There is also a rise in the cost of lumber these days which does not help. Good luck if your in the hunt for a new home.