South East Michigan September 2017 Housing Report
Active inventory rose 6% while new pendings fell by 8% in August. Supply levels are still low (about 2 months) in lower
and middle price ranges, but jumped to over 5 months in the $400k-$800k range, and to 14 months in the >$800k
range. With 749 listings priced over $800k, there were only 52 new August pendings and 52 closed sales. High-end
sellers are competing for fewer buyers with more lofty expectations. They have to package and price accordingly.
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