With all the attention being paid to the multitude of $1 homes in Detroit, it’s easy to miss that the housing market in the area is actually bouncing back.
“Home prices have risen over the last two years pretty dramatically,” Dan Elsea of Michigan real estate company Real Estate One tells us. “Probably about a 40-45%, in some cases up to 70%, appreciation off of the bottom.”
With home prices finally on the rise, more and more people aren’t afraid to buy anymore.
According to Detroit realtor John Lewis, “If you wait a week, they’re gone. If you wait a day, they’re gone. If you schedule a showing to see a property tomorrow, it’s gone tonight.”
We take a look at the bright side of Detroit real estate.
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Produced by William Wei
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Music:
“Golden Days” by Topher Mohr & Alex Elena
via The YouTube Audio Library
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