Has Real Estate Improved? Yes and NO.....Let's take a look at the chart below that compares the 2nd Quarter of 2011 to the same period of 2010. This chart explains some of the challenges we have faced, and more importantly, it explains the frustration that many buyers have faced in the past 90 days.
The Absorptioin Rate Graphs in our recent "Michigan Real Estate Matters Newsletter" coupled with the above report reveals the reason that sales may have slipped in North Oakland County this past Quarter. We feel that the low supply of inventory along with a similar demand for homes has caused less sales. Furthermore, it is likely this same supply and demand difference that has caused an increase to the average sold price.
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