Detroit residential sales continue uptick
Detroit residential home sales in November showed a four percent
increase in comparison with 2006’s numbers. This is significant
considering the decrease in sales everywhere else in Metro Detroit.
Detroit residential home sales in November showed a four percent increase in comparison with 2006’s numbers. This is significant considering the decrease in sales everywhere else in Metro Detroit.
Excerpt:
The increase is attributable to a combination of demand from young,
urban pioneers and out-of-town investors, said Darralyn Bowers,
president of Southfield-based ERA Bowers and Associates, which does a majority of its sales in Detroit.
She
said data indicates a high level of cash buyers, meaning a lot of the
sales are by people investing in residential real estate.
“We
may not appreciate what an opportunity Detroit property is right now,
but some people are,” she said. “When this passes, we’ll see tremendous
fortunes made.”
Read the entire article here.
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