Home Sales Up, Prices Down In August

Home sales in southwest Michigan remain strong, although selling prices did go down in the month of August. The Southwest Michigan Association of Realtors tells WSJM News the average selling price for a home in the region dropped 12% from July to August. The median price also slipped 3%. That’s after selling prices held steady for about four months. The number of houses sold increased 8% over the number of houses sold in August 2016. Year to date, home sales in southwest Michigan are up 6%. The realtors association also tells us mortgage rates have continued to go down, while the housing inventory is also tight.