April 16, 2024 9:19 pm

Local News

MI House Prices Increase Slightly, But Remain Lower Than National Prices

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Staff Writer

In June 2023, home prices in the United States decreased by 0.83 percent compared to last year to a median price of $425,177, according to data from Redfin. While the number of homes sold has continued to decrease, with 520,504 homes sold in June this year, compared to 616,407 homes sold in June last year, the 15.8 percent decrease nonetheless marks an uptick in home sales compared to May 2023. 

Here in Michigan, home prices increased slightly by 1.2 percent compared to last year, with a median selling price of $259,800. The number of homes sold decreased by 6.1 percent compared to last year, as 12,183 homes were sold in June, though it increased from May 2023. 

The full housing report can be found here