Home Sales on the Rise, but Momentum May Be Fading

It’s always important to keep an eye on the local market trends—July brought a 7% increase in home sales, with average home values rising 1.1% to $371,757. We’re seeing inventory tick up to 1.41 million homes, which can offer more options for those looking in the Oxford, Lapeer, or Lake Orion areas. Mortgage payments dipped slightly by 0.9%, though that may not last long. The median days to pending rose to 25, and 27.1% of listings had price reductions—signs that the pace may be shifting. With 35+ years of guiding buyers and sellers through changing markets in our communities, I know how to help you navigate these shifts smoothly and make informed decisions at every stage.