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Tue March 6, 2012
Home prices tick up in Michigan
There’s some good news for people planning on selling their homes in Michigan.
During the last four years, home sale prices in Michigan have been on a rollercoaster, mainly going down.
But Clear Capitol reports today Michigan home prices may finally be stabilizing.
Alex Villacorta is with Clear Capitol. He says an improving job picture, stronger consumer confidence and more investors buying cheap homes are all contributing to a more stable real estate market.
Villacorta says nationally prices in February were only down about a half percentage point from the previous year.
"Bringing it back to Michigan," says Villacorta, "that fact that prices are actually up 1.2% over the last year is definitely a good sign…and up double digits…about 15% from the low point of 2009.”
But as with all things real estate, 'Location…location…location' is what matters.Villacorta says Grand Rapids’ home sale prices are up about six percent compared with a year ago, while home prices in Lansing and Flint continue to decline.