SWM Housing Market Shows Continued Improvement

The southwest Michigan housing market finished 2017 continuing to sizzle. According to the latest numbers from the Southwestern Michigan Association of Realtors, 2017 home sales in the region were up 4% over 2016. However, the market did slightly slow down in December, with monthly sales slipping 7% from December of the previous year. The assocation tells us housing inventory in December slipped to an all-time low, falling to a 4.4 months supply of houses for sale the final month of 2017. When comparing 2017 to 2016 as a whole, the average selling price in the region was up 9%, and the average price in just December of 2017 was up a whopping 16% over December of the previous year. The Southwestern Michigan Association of Realtors tells us it enters 2018 excited to be well past the recession. The group adds in its latest report, it’s “been a long road back from the 2006, the previous peak year.”