From MiOaklandCounty Home Sales UP In February

Don't take my word for it, take the Free Press's.

Sales of homes and condos in metro Detroit rose 12.8% in February compared with a year ago, according to figures released Tuesday by Realcomp.

There were 3,591 home and condo sales in the metro area in February compared with 3,184 in the same month in 2007. Realcomp figures are tallied from listing agents' reports of closed sales.

Price is helping to move these homes, but the shift in the market is palpable.  Dmitry and I talk to each other more on the cell phone right now than we see each other.  For the last two weeks we've had numerous clients writing offers and sellers receiving mulitiple offers.  You read that right.

Apartments' investment outlook ‘very strong' (read full article)

posted by Mary Ann Milbourn

The National Multi Housing Council says it's about demographics. Apartments look like the place to be for real estate investors thanks to a growing demand for rentals, says the organization representing the industry's largest firms.

"The outlook for the apartment industry going forward is very strong," said Mark Obrinsky , HMHC chief economist. "The nation's 75 million echo boomers are already entering the housing market, and most begin as renters. ... Strong immigration levels add even more demand for rental housing."