November – Southeast Michigan Market Overview

In November, mortgage rates reached new record lows, again! As a result, buyers have been encouraged to move forward on home purchases. Pending sales have increased 20.6% in residential homes and 19.5% for condos.

Showing activity is still significantly higher than it was in November of 2019. This indicates that even with limited inventory, the buyer demand is still very strong. November is normally the start to a slow time of year in real estate but that has not been the case in 2020.

If you’ve been thinking about selling, don’t wait, now is the time to take action. Give us a call at 248-270-5999 for more information on how to get started.