August '21 Market Report
Many of your markets are showing signs of growing inventory and longer market times. We have seen depleted inventory for an extended period which has caused buyers to act fast. Supply levels have likely bottomed and are back on the rise.
The market with its out-of-balance supply and demand is easing toward balance. Look for seasonal trends to slowly return (including a burst of fall sales activity) for supply levels, market pace and prices as the market normalizes. Average value gains in our Michigan markets have outpaced national averages and may pull back toward the end of the year.