Imported from Detroit: Chryslers & Housing Strength

October 25, 2011

by Scott Sambucci

5 comments

Starting in March, Detroit’s listing prices (a.k.a “asking prices”) began rising in our weekly numbers, with a full-fledged upswing by the summer months:

Listing Prices: Detroit MSA Housing Market (January 2011 - October 2011)

As reported in DSNews about today’s Case-Shiller numbers – Detroit and Washington D.C. were the only two cities to see positive annual returns of +2.7 percent and +0.3 percent, respectively.

Just last week, our very own Jon Sterling pointed to Detroit as a top investor market based on our October National Housing Report.

If you’re not subscribed to our National Report, now would be an excellent time.  It’s free and delivered to your inbox every week. Click here to add yourself to our list of VIPs who watch what’s happening in the housing market in real-time, so you don’t have wait two months for the Case-Shiller numbers.

But beware – our the weekly number (black line above) is now moving down now because of seasonality effects.

{ 4 comments }

Richard C. Montague October 31, 2011 at 2:02 am

The demographic is pretty much interesting. I will be checking for a while and look for some constructive ways to meet those numbers. Thanks a lot for the review!

Prague Property November 1, 2011 at 10:06 am

Interesting data. A partner of ours from Prague has been promoting Detroit property but I also saw a number of articles on how there were empty subdivisions and thought any recovery would be a long way off.

Morgan November 1, 2011 at 7:12 pm


+1

Sandy Shore December 8, 2011 at 12:02 pm

It's only a matter of time until we see housing markets in infrastructure-heavy areas like Detroit start to recover a bit (albeit maybe short of a 'rebound'). It would make sense that, with continued stability, these areas will see more cottage industries sprouting up and a corresponding increase in demand for inexpensive housing. Who knows – maybe the auto industry will wake up and drive prices back up! There seems to be more of a chance of that happening than the construction industry roaring back in Florida.

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