LISA VANDERLOO
  • Home
  • Property Search
  • Sellers
    • Seller Services
    • The Home Selling Process
    • What Is My House Worth?
    • Video Marketing
  • Buyers
    • Buyer Services
    • The Home Buying Process
    • Why Use a Buyer's Agent?
  • Blog
    • For Buyers
    • For Sellers
    • Home Improvement
    • Finance
    • Local Events & Places
  • About
    • Meet Lisa
    • Contact
    • Testimonials

Market Update, Greater Grand Rapids Real Estate

1/15/2015

2 Comments

 
Picture
The real estate story of Grand Rapids, MI in 2014 is quite similar to 2013.  The inventory of homes for sale has remained low and prices have been steadily increasing.  It has been a great market for sellers and a competitive market among buyers.  Interest rates have remained low.

It is suspected that sales are slightly constrained because of the limited inventory.  Year-to-date, new listings are down by 7.4%, and the number of housing units sold is up 2.8%.  The average sales price is up 6.7% this year, growing from $152,833 in 2013 to $163,171 in 2014.  Due to increasing sales prices, the volume of home sales is up by almost 10%.

Economic experts are saying more inventory in 2015 and hopefully a healthy, balanced market.  Some lending restrictions are lightening that will allow more first-time home buyers to enter the market.  First-time buyers are expected to make a big comeback after being at an all time low number in 2014.  Interest rates are expected to rise to around 5% by the end of 2015. 
​
The last 10 years of real estate in the US has been quite a roller coaster of extreme highs and lows.  With the economy improving, continued responsible lending, and the growth of Grand Rapids, I am predicting that the next 10 years are going to be wonderful for this area.  Grand Rapids is going to grow and bring many opportunities with that growth.
Picture
2 Comments
Luxury Builders Birmingham MI link
1/21/2015 08:29:52 pm

I really got good information after reading your blog and I appreciate all of the information you have given and continue to give. thanks for sharing

Reply
Lisa VanderLoo
1/22/2015 04:42:19 am

Glad you enjoyed it! Thanks!

Reply



Leave a Reply.

    Lisa VanderLoo

    Great info on everything real estate.

    RSS Feed

    Categories

    All
    Fair Housing
    Finance
    Funny
    Home Buyers
    Home Improvement
    Home Sellers
    Local Places/Events
    Market Update
    Renting

    Archives

    November 2023
    December 2022
    June 2022
    October 2021
    May 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    April 2020
    August 2019
    May 2019
    April 2019
    September 2018
    January 2018
    September 2017
    August 2017
    April 2017
    March 2017
    February 2017
    December 2016
    September 2016
    June 2016
    February 2016
    January 2016
    July 2015
    May 2015
    February 2015
    January 2015
    November 2014
    October 2014
    August 2014
    July 2014
    June 2014
    April 2014
    March 2014
    February 2014
    March 2013
    August 2012

Picture
© COPYRIGHT 2020. ALL RIGHTS RESERVED.
  • Home
  • Property Search
  • Sellers
    • Seller Services
    • The Home Selling Process
    • What Is My House Worth?
    • Video Marketing
  • Buyers
    • Buyer Services
    • The Home Buying Process
    • Why Use a Buyer's Agent?
  • Blog
    • For Buyers
    • For Sellers
    • Home Improvement
    • Finance
    • Local Events & Places
  • About
    • Meet Lisa
    • Contact
    • Testimonials