Could this be true? Are things starting to pick up here in the "D"(that's Detroit Mi for those who haven't read my previous blogs). I don't want to get carried away with what may just be a blip but any good news is worth sharing.
While I was looking at the Market stats for February, I noticed that the city of Detroit is down to around a 6 months inventory.That's way down form the 21 months we had in January of 08.
Livonia Michigan, where I live and so a lot of my business is down to around 9 months of inventory. Once again, a positive sign since we were at 16 months a year ago.
There may be a lot of reasons for the change. Most notably would be that we have gotten rid of a lot of the dross, the bank owned houses that were torn up and ready to be torn down. It could also be that seller are waiting to put their homes on the market, thereby not flooding the market with inventory.
Call me the eternal optimist, but I'm willing to share good news where I find it. I sure don't see or hear it in the media.
I hope this might bring a little hope to us all.
Best of Success
Jerry
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