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Metro Detroit homebuyers face higher prices but more inventory, lower mortgage rates

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Metro Detroit homebuyers face higher prices but more inventory, lower mortgage rates


Eric Vance knows a good house when he sees one.

The 54-year-old contractor from Southfield, who has spent years buying and flipping homes, recently toured a property in Redford Township that immediately caught his attention.

“It was the fireplace and that kitchen,” he said. “Because I am a family man, and it put me right where I needed to be and what I needed to see.”

Buyers like Vance who are looking for a new home are navigating the housing market at a time when inventory, prices and days on the market are on the rise, even as interest rates begin to trend down. Metro Detroit’s housing market saw prices climb modestly in August, even as sales slowed, with the market heading into a seasonal slowdown.

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The median sales price across Metro Detroit rose 4.4% year-over-year to $332,500 across Wayne, Oakland, Macomb and Livingston counties, according to the latest RE/MAX of Southeastern Michigan Housing Report. The supply of inventory increased to 2.8 months in August, compared with 2.6 months in July and 2.4 a year earlier, according to the report.

“We are continuing to see a bit more inventory coming into the market that is starting to be reflected in the month supply,” said Jeanette Schneider, president of RE/MAX of Southeastern Michigan. “We’re seeing that inch up a little bit. That’s a signal that we’ve got more and more inventory coming to market.”

The median sales price rose across a broader area — 18 Michigan counties — to reach $289,000 for residential and condo sales combined, according to a Realcomp August sales report, up 5.1% from $275,000 the year before. Realcomp, the state’s largest multiple listing service, looks at Genesee, Hillsdale, Huron, Jackson, Lapeer, Lenawee, Livingston, Macomb, Monroe, Montcalm, Oakland, Saginaw, Sanilac, Shiawassee, St. Clair, Tuscola, Washington and Wayne counties.

The supply of inventory across the 18 counties increased 16%, from 2.5 months to 2.9 months year over year. Pending sales decreased 4.9% from 10,345 to 9,839 year over year, while pending sales increased from 9,778 month over month by 1%. Closed sales decreased 3.7% from 10,530 to 10,138 year over year, and decreased from 10,507 month over month, a decline of 3.5%.

“As we prepare to move from summer into fall, homebuyers have more choices than they have had all year,” Karen Kage, CEO of Realcomp II Ltd., said in the report. “While median sales prices remain fairly consistent, inventory is at its highest August levels in 5 years.”

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‘Holding our own’

One notable point in the data was Detroit, which saw its median sales price jump about 16% from last year to a record $111,500, according to Realcomp.

Darralyn Bowers of Bowers Realty in Southfield said the housing market remains healthy in the city and across Metro Detroit: “So far, we’re holding our own, and we’re still seeing property values go up.

“Even in Detroit, we’re seeing growth. Michigan is unique in the Midwest here. We’ve got so many positive qualities, like the water and the amenities and the desirability of Detroit and some of the things that are happening here in Detroit. I think those all accelerate to a better market.”

Nathan Boji, an agent with RE/MAX Classic in Farmington Hills, said the market varies across Metro Detroit, with Oakland County staying strong in cities like Novi, Farmington Hills and Bloomfield Hills. Livingston County properties are selling quickly, while Macomb County offers solid value. He said Wayne County remains the most affordable for entry-level buyers, with Livonia and Dearborn competitive under $400,000. Sterling Heights is also seeing steady activity.

“If it’s priced right, it’s selling,” he said. “If it’s not priced right, it’s going to sit.”

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Jessica Belanger, an agent with RE/MAX Advisors in New Baltimore, said homes in the northern subdivisions in Macomb County, such as New Haven and Shelby, Washington and Macomb townships, are selling relatively quickly: “The nice houses, nice upgrades that don’t need a lot of updates and not priced hopefully over market, are still selling.”

Mortgage rate slide helps

As housing prices rise, mortgage rates continue to trend down, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 6.35% as of Thursday, down from the previous week when it averaged 6.5%. A year ago at this time, the 30-year fixed-rate mortgage averaged 6.2%.

“The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,” Sam Khater, Freddie Mac’s chief economist, said in the report. “Mortgage rates are headed in the right direction and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years.”

Schneider said September will be the month to watch as the Federal Reserve meets mid-month and markets look for a possible rate cut.

While mortgage rates are more closely tied to the 10-year Treasury than the Fed’s actions, she said Fed decisions can signal direction and influence buyer sentiment. Schneider added that even if rates don’t drop significantly, a Fed cut could give buyers more confidence and push some off the fence, potentially leading to more activity in the fall housing market.

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“So it seems, from my perspective, the market has already kind of anticipated what the Fed is going to do, and the interest rates are already starting to kind of reflect that,” she said. “So I don’t necessarily think we’re going to see a huge drop in the mortgage interest rates, even if the Fed does a cut. But what I think a Fed cut could do is psychologically be a very positive confidence booster for buyers that have been iffy.”

While mortgage rates have eased into the mid-to-high 6% range, Boji said many consumers are still holding back: “A large percentage of the consumer still sees that as being a very high rate. They’re sort of holding their breath for a kind of a magic kind of reduction, in the sense of possibly seeing rates that we saw several years ago — 3, 4, 5%.”

Jessica Belanger, an agent with REMAX Advisors, said she’s noticing some clients becoming accustomed to the mortgage rates. “Everybody out there in general is kind of coming to that realization that those 2.5% interest rates were not a realistic expectation. It’s kind of a once-in-a-lifetime thing.”

To help prospective buyers make home ownership more affordable, Bowers said her team hosts a monthly brunch to educate them about down payment assistance and help them explore their options. She noted that some banks are offering grants up to $17,500, while others provide low- or no-interest loans, some with no income limit.

“If you had a grant of $10,000,” Bowers said, “that also is equity.”

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Vance, whose budget is between $200,000 and $250,000, said he isn’t a fan of the current mortgage interest rates. But a divorce last year has prompted his move.

The father of three, including two adult children, is considering the three-bedroom home in Redford Township for its roominess. He said he could see himself building an outdoor kitchen off the back patio, a place for entertaining and spending time with loved ones.

For Vance, homeownership is about more than space: “When you are a homeowner, it means a lot. It gives you that peace of mind … a feeling of accomplishment, like you’re doing something right.”

cwilliams@detroitnews.com

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Detroit, MI

Tensions rise as anti-Islam protestors clash with Muslim community activists in Dearborn

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Tensions rise as anti-Islam protestors clash with Muslim community activists in Dearborn



Anti-Islam demonstrators clashed with counter-protestors on Tuesday in Dearborn as a group of a few dozen marched toward city hall, shouting Islamophobic rhetoric.

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“How are they coming to us and saying we’re all about division and all about Sharia Law. They’re coming here and giving us nothing but hatred,” said Ali Aljahmi, from Dearborn.

CBS News Detroit was at the scene along Michigan Avenue, where the dueling demonstrations stemmed from when Michigan Republican gubernatorial candidate Anthony Hudson falsely claimed that there was Sharia Law in Dearborn. He later walked back those statements.

“If we’re going to bring these people together, then we’re going to lead by example and come down here, put boots on the ground and walk with these people and show that we can come together,” Hudson told CBS Detroit.

Hudson led a march with supporters of his advocating for his slogan ‘Fix Michigan,” but it was another group of demonstrators, not condoned by Hudson, on that same route that stirred the pot.” Other people in the crowd included Jake Lang, a Republican who is running for a U.S. Senate seat in Florida. Lang was charged with assaulting an officer, civil disorder and other crimes in connection with the Jan. 6 riot before he was pardoned by President Trump.

CBS News Detroit was at the scene when Lang threatened to burn a Quran and taunt counter-protestors with bacon.

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Dearborn police kept an eye on the protests and urged people to engage with demonstrators. One person was seen being led away in handcuffs. It’s unknown if that person will face charges.

Some protestors said they hope what happened on Tuesday sheds some light on what they call hateful demonstrations from people outside of Dearborn who are mischaracterizing the city.



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Why Dan Campbell still believes in the Detroit Lions’ offensive line

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Why Dan Campbell still believes in the Detroit Lions’ offensive line


The Detroit Lions’ offense has sputtered all season, and one of the biggest culprits has been inconsistent play from their offensive line. It’s why Detroit’s running has sputtered at times, and it’s why Jared Goff is currently on pace for 34 sacks—the most since his first year in Detroit back in 2021.

Some struggles were expected. This offseason, the Lions lost All-Pro center Frank Ragnow to retirement and Pro Bowl guard Kevin Zeitler in free agency. They opted to start rookie Tate Ratledge at right guard, second-year Christian Mahogany at left guard (now replaced by Kayode Awosika due to injury), and veteran Graham Glasgow is back at center, a position he hasn’t regularly started at since 2022.

Against the Philadelphia Eagles, the offensive line continued its struggles. Goff was hurried and inaccurate all night, while the Lions only mustered a measly 3.5 yards per carry on the ground.

Despite the recent troubles, coach Dan Campbell believes it’s going to get better as the Lions attempt to make a playoff push in the final seven weeks of the season.

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“I believe in these guys, man. I do.” Campbell said. “I just think the more they play together and they mesh, and we just do things that we do well.”

There have been games in which the Lions’ offensive line has seemingly settled in. They’ve held the opponent sackless in four of 10 games this season, and the run game has topped 150 yards in four contests so far.

Campbell believes there’s more he can do to lean into the unit’s strengths—something he thinks he could’ve done a better job of in Sunday’s loss to the Eagles.

“Every game’s different. There’s a couple of things I wish yesterday maybe I do differently, and just the way that we go about attacking those guys. Just a little bit that I think maybe can help our guys, too. There again, I just think – there’s a lot of things I think about that are always going around in my head, man. A number of different ways, ‘Well, we can do this, we can do this, we can try this.’”

Next up is the New York Giants. While they are just 2-9 on the season, they do boast a defensive line that could challenge the Lions’ front. That includes the likes of Brian Bruns, Kayvon Thibodeaux, Dexter Lawrence, and Abdul Carter.

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Still, Campbell remains confident in Detroit’s front.

“I just go back to, man, I just believe in these guys. I think that they’re good enough, they know how to play together, we’ve just got to be a little more consistent in areas.”



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Wayne County team looks into what led to a wrongful conviction in a Detroit robbery

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Wayne County team looks into what led to a wrongful conviction in a Detroit robbery


A special team has issued its report on a wrongful conviction in Detroit, saying mistakes made early in the investigation led to the robbery conviction that unraveled years later. 

The matter involved Eric Anderson, who spent nine years in prison for an armed robbery that took place in 2010 in Detroit. That conviction was vacated in 2019. The judge’s sentence had called for 30 to 50 years in prison. 

The Wayne County Sentinel Event Review Team presented its findings Monday, upon a review requested by Wayne County Prosecutor Kym Worthy. 

This review is the first of its kind in Michigan, authorities said. It identifies 40 “contributing factors that led to the inaccurate conviction,” and provides over two dozen recommendations to help boost the fairness and accuracy of the criminal justice system in Wayne County. While this idea had been in the works for years, Worthy said it took grant money and the careful selection of an appropriate investigation to use as the case study. She hopes to repeat the process with another case in the future.

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“I think when mistakes are made, it’s prudent to determine how and why they were made to ensure they are not made in the future,” Worthy said. “I like that this review is done in a blame-free environment to get to the heart of the problem. I am hopeful that the adoption of these recommendations will help prevent future wrongful convictions and increase public confidence in the criminal justice system.” 

The Quattrone Center for the Fair Administration of Justice at the University of Pennsylvania Carey Law School led the effort. Other agencies involved were Wayne County Prosecutor’s Office, Detroit Police Department, the Third Judicial Court of Michigan, the Michigan State Appellate Defender Office and the Cooley Innocence Project. 

The team concluded that errors happened at multiple steps during the robbery case, from eyewitness identification and investigation to trial and post-conviction. 

“The process is not about blame – it is about building a safer, more transparent, and more reliable justice system,” said John Hollway, Senior Advisor to the Quattrone Center for the Fair Administration of Justice at Penn Carey Law. 

For example, authorities said there was only one eyewitness account. The robbery victim had been injured. There was poor lighting in the area. The assailants were masked. An identification was made based on a photograph that was not taken around the time of the robbery. 

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“The review underscores that eyewitness misidentification remains one of the most powerful drivers of wrongful conviction. Strengthening procedures around identifications is essential to ensuring that the system protects the innocent and holds the guilty accountable,” said Valerie Newman, Director of the WCPO’s Conviction Integrity Unit. 

A sworn confession from one of the actual perpetrators sent this case into further review, authorities said. The WCPO Conviction Integrity Unit determined that the other two men committed the robbery and asked that this conviction be vacated. 

The recommendations from this review focus on taking precautions early in an investigation, before errors can build up. This includes evaluation of eyewitness identifications, alibi questioning and case documentation. 

The report also noted that some technology that is commonly used today, including cell phone location tracking and license plate recognition cameras, was not available when the initial crime took place. 

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