The national housing market continues to recover, and Greenwood Farms Subdivision in Livonia Michigan is a great example, as a result of existing-home sales improving with low inventory supply pushing home prices upward. National Association of Realtors (NAR) Chief Economist Lawrence Yun states, "Momentum continues to build in the housing market from growing jobs and a bursting out of household formation. With lower rental vacancy rates and rising rents, combined with historically favorable affordability conditions, more people are buying homes."
Greenwood Farms subdivision in Livonia has approximately 114 homes in it. The homes were built during the years of 1967 - 1968. The homes are mostly Colonial, split level, and ranch style. Most of the homes in Greenwood Farms Subdivision have brick exteriors, 2 car garages, 3-4 bedrooms, 1 & 2 + bathrooms, basements. Square footage of the colonial homes range from 2100 - 2500 square ft. Square footage of the ranch homes range from 1600 - 1700 square ft Square footage of the split level homes range from 2100 - 2300 square ft. In 2012 there were no homes sold in this subdivision, which shows what a wonderful place it is to live.
There are good signs that 2013 will be a year of recovery for the housing market. 2012 is the first year since 2005 where the year ended in positive territory, and if 2013 is anything like 2006, it could mean we are headed for a strong rebound. There is an urgency to buy now as home prices continue to increase and mortgage rates are at historic lows.
I hope this helps you if you have a Michigan relocation in your future. Whether you are moving from out of state or just moving to Wayne County I can help. Please contact me on my cell at 313-310-9855 for all of your real estate needs.
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