Metro Detroit home prices rise, buck national trend

[UrbScotty]

Source: Detroit Free Press

Metro Detroit home prices posted a 1.2% annual gain through July with strong summer demand, according to S&P/Case-Shiller data released today.

Detroit is one of just two metro areas that showed price appreciation in the July report. The other was Washington, D.C., with a 0.3% rise.

Data revisions in the past three months have uncovered better news for the metro Detroit housing market, said David M. Blitzer, chairman of the index committee at S&P Indices.

“In particular, Detroit was most affected in July with the revisions showing a much healthier market than previously thought,” Blitzer said in a statement.

Read more: http://www.freep.com/article/20110927/BUSINESS04/110927031/Metro-Detroit-home-prices-rise-buck-national-trend

[louis-t]

1. Duh, I could have told you that.

We have what I call a seller's market within a buyer's market. Foreclosures are being bought up at a record pace. There are multiple offers on just about every foreclosure. Banks are getting faster with short sales and competant short sale specialists are starting new businesses. The days of $15,000 homes in suburban areas are quickly coming to an end. If we could only stop new foreclosures, we would see some semblance of normalcy around here.

[Demeter]

2. Normalcy would be a nice change

if only I could remember what that was...

[hang a left]

4. And I thought it was the because the

Tigers and Lions are having such great seasons. :)

[Turbineguy]

3. I just knew it!

Saving those automakers was a biiiiiig mistake!:sarcasm:

[PassingFair]

5. We're down so far, it looks like UP.

I hope the rest of the country is spared
the hollowing out that we experienced with
our manufacturing base disappearing.