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  • What did existing home sales look like in July 2026?

    What did existing home sales look like in July 2026?

    Existing home sales rose 0.7% year-over-year in July, despite a 1.7% monthly decline nationwide. Median home prices increased for the 37th consecutive month, reaching $434,100, while housing affordability improved across all regions. Total homes for sale decreased slightly to 1.54 million. Mortgage rates averaged 6.69%, up slightly from the previous week and year. Regional sales changes varied, with the Northeast up 2%, the West stable, the Midwest down 2%, and the South down 3.1%.

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  • Remodeling Spending Surges in Michigan and Continues To Outpace Construction Nationwide

    Remodeling Spending Surges in Michigan and Continues To Outpace Construction Nationwide

    I’ve noticed a strong trend right here in Michigan: homeowners are investing more into remodeling, with spending rising 10.1% annually to $637.6M. With higher home prices and interest rates, many are choosing to renovate instead of move, leading to larger-scale projects. Meanwhile, residential construction spending and new housing units under construction have both slowed. After working with buyers and sellers in Oxford, Lapeer, Lake Orion, and surrounding areas for over 35 years, it’s clear to me that understanding these shifts is essential—whether you’re deciding to stay and update your current home or weighing a move. I always strive to keep my clients informed so they can make the best decisions for their families, especially as our local market evolves.

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  • Opportunities Abound: 14.5 Million Homes for Buyers

    Opportunities Abound: 14.5 Million Homes for Buyers

    The national vacancy rate dropped by 0.31% between 2023 and 2024, resulting in about 302,000 fewer vacant homes, indicating some improvement in the housing market. Areas with low vacancy rates have median home values averaging $435,118, significantly higher than the $267,440 average in high-vacancy states, highlighting the impact of inventory shortages on home prices.

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  • US Existing Home Sales Edge Up

    US Existing Home Sales Edge Up

    In Early-Q3, US existing-home sales slipped ↓1.7% MoM but still finished ↑0.7% yearly, showing completed transactions held slightly above prior summer's pace.
    Median existing-home prices reached $434.1K in Early-Q3, extending a 37-mo streak of yearly gains and giving many homeowners additional equity to monitor.
    Inventory ended Early-Q3 at 1.54M homes, ↓1.9% MoM and ↓0.6% yearly, a reminder for buyers to track listings closely in a still-tight market.
    Housing affordability improved nationally even as prices rose, suggesting buyers who stay prepared can benefit when value, timing, and available choices start aligning.
    Mortgage costs averaged high-6% recently on a 30-yr fixed loan; any rate easing could further support buyers as the summer market continues.

  • AI Housing Predictions: Help or Hidden Influence?

    AI Housing Predictions: Help or Hidden Influence?

    AI models analyze vast datasets, from rates to neighborhood signals and online sentiment, uncovering patterns humans miss and sharpening housing and mortgage decisions.
    For buyers and sellers, AI tools can flag future hot spots, suggest pricing, timing, and renovations, and add data-driven confidence to major decisions.
    Trust remains central because many models work like black boxes, making strong predictions without clear explanations and raising questions about hidden bias in training data.
    Widespread adoption could blur prediction and influence, as shared signals steer investor, lender, and buyer behavior, potentially reinforcing trends and amplifying market swings.
    Across developed and emerging markets, adoption differs with data quality and oversight, making collaboration, education, and human oversight central to next steps.

  • Cheaper Mortgages Won’t Fix US Housing

    Cheaper Mortgages Won’t Fix US Housing

    Federal housing policy long favored cheaper financing, but the new law signaled a shift toward easing construction, streamlining reviews, and supporting more homebuilding.
    The core issue was supply: when too few homes exist where demand is strongest, limiting certain buyers can change ownership, but not create homes.
    The law's most consequential steps encouraged manufactured housing, rewarded communities that build more homes, and reduced barriers that can make new construction slow or costly.
    The analysis found cheaper mortgage credit tends to increase borrowing and lift house prices more than homeownership, especially where zoning and permitting constrain building.
    Congress began bridging competing priorities, but the central takeaway remained clear: expanding housing supply, not subsidizing every bidder, offers the stronger affordability path.

  • Home Price Growth Expected To Slow Further

    Home Price Growth Expected To Slow Further

    Looking ahead to 2026, we’re anticipating a notable shift in the real estate landscape: home price appreciation is projected to slow to just 1.2%. At the same time, existing-home sales are expected to see a modest bump, reaching 4.10 million. Inventory growth is predicted at 3.6%, and the homeownership rate could climb to 65.1%. For those keeping an eye on rental trends, rents are forecasted to decline by 1.2%.

    After more than 35 years working with buyers and sellers throughout Oxford, Metamora, Lapeer, and neighboring Michigan communities, I know how important it is to keep clients informed about these kinds of market changes. Whether you’re thinking about making a move or just want to stay up to date, my goal is always to make your real estate experience as smooth and stress-free as possible.

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  • Housing Week Ahead: Hottest ZIPs, Existing-Home Sales, and Data Center Deep Dive

    Housing Week Ahead: Hottest ZIPs, Existing-Home Sales, and Data Center Deep Dive

    A quick look at the week ahead in real estate: We’re expecting several key reports, from the 2026 Hottest ZIP Codes to updates on how AI is shaping housing markets near data centers. The July Luxury Monthly Report and the latest Existing-Home Sales data will also be released, along with the July consumer price index and Freddie Mac’s mortgage rate survey. For those of us guiding clients through Oxford, Lapeer, Lake Orion, and the surrounding Michigan communities, staying on top of these trends is essential. With over 35 years navigating changing markets, I know how important it is to anticipate shifts and provide clients with clear, timely updates—so you can make your next move with confidence.

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