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“The market in southwest Michigan is still well and good. This has not been a bad market year. We had the best year in MLS history last year and that pace would be hard to match. We currently are on par with the fourth-best year that we have ever had since we started our record keeping in 1978," stated Gary Walter, executive vice president of the Southwestern Michigan Association of Realtors Inc.
After a double-digit decline in September, October posted just 8 less home sales compared to October of 2006. With the 30 year fixed rate mortgage on a steady decline since July many believe the mortgage situation in Michigan is making a turn for the best.
In Michigan the average selling price compared to last year dropped 1.4 percent to $192,456 but the median price of a home jumped 14 percent to $127,750.
More On Michigan Mortgage
Posted December 27th, 2007 by jredz
