Oftentimes in real estate, national trends will be gathered and represented by a 20 city composite. These are numbers garnered by the 20 biggest metropolis cities in the United States.
In 2013, S&P/Case-Shiller reported that, according to the 20 city composite, home prices are on a steady rise. They are averaging a 7.3% growth country wide with Phoenix by and far doing best at a 23.2% rise.
While Detroit posted a postive annual return, the city's home prices were the only to show deceleration. However, the good news is that in 2013, Detroit showed a positive annual returns - double digits, in fact.
If you're looking to buy in the Detroit area, take note of this information. While prices might not be as high as they are in other parts of the country, they are showing positive growth. Right now is a great time to buy: prices are still reasonably low, but your dream property is gaining value.
Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including Shelby Township, MI short sales, foreclosures and working with home buyers and sellers with Macomb County Luxury homes.When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.