Southwest Michigan sees record home prices, averaging $408,000, up 20% year-over-year, due to low inventory.

Home prices in Southwest Michigan hit record highs in November, with the average selling price at $408,000, a 20% increase from last year. Despite more homes being sold and available, a lack of inventory in desirable areas is pushing buyers to look farther. Builder focus on higher-end homes due to current demand may shift to more affordable options as high-priced units sell out. The market is slowing but not shrinking.

3 months ago
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