housing home sales http://michiganradio.org en New report: Detroit home sale prices up 10 percent from last year http://michiganradio.org/post/new-report-detroit-home-sale-prices-10-percent-last-year <p>A new <a href="http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&amp;blobcol=urldocumentfile&amp;blobtable=SPComSecureDocument&amp;blobheadervalue2=inline%3B+filename%3Ddownload.pdf&amp;blobheadername2=Content-Disposition&amp;blobheadervalue1=application%2Fpdf&amp;blobkey=id&amp;blobheadername1=content-type&amp;blobwhere=1245345601470&amp;blobheadervalue3=abinary%3B+charset%3DUTF-8&amp;blobnocache=true">report</a> says housing prices are climbing in Detroit.<br><br>Home sale prices in major cities increased by about 4 percent from October 2011 to October 2012, and Detroit is rebounding more than twice as quickly.<br><br>However, news isn't all good for the city's housing market. Detroit still has the least expensive houses of any major U.S. city.<br><br>That's according to the Standard and Poor's Case-Shiller Home Price Indices. The monthly report tracks the prices of existing, single family houses in metropolitan areas.<br><br>David Blitzer works on the index. He says Detroit has seen the largest housing recovery of any city since it bottomed out.<br><br>"It has rebounded substantially, but it's certainly not rebounded even to where it was in the year 2000," he said. Wed, 26 Dec 2012 20:08:48 +0000 Michigan Radio Newsroom 10531 at http://michiganradio.org Foreclosure filings down in MI http://michiganradio.org/post/foreclosure-filings-down-mi <p>Foreclosure filings in Michigan have fallen to levels not seen since 2008.&nbsp;&nbsp; <a href="http://www.realtytrac.com/home/">Realty Trac </a>reports foreclosure filings dropped by 30 percent in February compared to a year ago.&nbsp;</p><p>Daren Bloomquist is with Realty Trac.&nbsp; He says mortgage lenders are finding it difficult to get home foreclosures started, since last fall&rsquo;s scandal involving incorrect paperwork forcing people out of their homes.&nbsp; New rules require more safeguards in preparing a foreclosure filing.&nbsp; But Bloomquist says this is only delaying the inevitable for many delinquent home owners.</p><blockquote><p>&nbsp; &ldquo;What hasn&rsquo;t gone away is there are still a lot of properties that eventually we people will be foreclosed on.&nbsp; That&rsquo;s really the only solution for some of these situations.&rdquo;&nbsp;&nbsp;</p></blockquote><p>Bloomquist says the slowed foreclosure process might help reduce the number of bank owned homes on the real estate market. &nbsp;&nbsp;The high number of foreclosed homes on the market is blamed for causing depressed home sale prices. Thu, 10 Mar 2011 13:56:24 +0000 Steve Carmody 1583 at http://michiganradio.org Foreclosure filings down in MI