U.S. and Bloomfield Hills Real Estate Continue to Improve

Posted in Bloomfield Hills Real Estate by Michigan Real Estate Expert on June 14th, 2012

Economists say and statistics show that there are true signs of improvement in the most recent housing figures for U.S. and Bloomfield Hills real estate markets. Here are a few of those stats:

  • Investors bought 1.23 million homes in 2011, up 64.5 percent over 2010, according to data from the National Association of REALTORS®.
  • The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010.
  • Single-family home sales rose 3 percent in April.
  • New home sales increased 3.3 percent in April, according to new Commerce Department data.
  • Sales of existing homes rose in April, up 10 percent from April of 2011.
  • Median existing nationwide home prices also moved upward to $177,400 from $164,800. This is the biggest year-to-year gain since January 2006.

In addition to good nationwide and Bloomfield Hills real estate news, there’s also good news about the economy:

  • Economic growth is now projected to grow by 2.4 percent this year, up from a 2.2 percent forecast in February.
  • The new job creation forecast, which is the most watched economic indicator, has also improved. The data now shows that 188,000 new jobs will be created each month this year, which is up from the 170,000 new jobs per month forecasted earlier this year.

As you can tell from this data, if you want to buy Bloomfield Hills real estate while prices are at their lowest, don’t wait a minute longer. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com to get started!

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan

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