Housing Market Is On The Rise Across Northern Michigan

The housing market is up significantly across Northern Michigan.

New numbers released by the Traverse Area Association of Realtors show the housing market is up by nearly 20 percent.

More people are deciding to live in Northern Michigan.

Realtor with Coldwell Banker, Beccy Janis says it’s a perfect time to sell.

“There’s a lot of people that want to come to our area. The market is up, values are up inventory is low, so if you’re thinking about selling your house, it’s a great time to sell your house.”

Janis says rentals can be hard to find.

“I think rentals are becoming more difficult to find, reasonable rent for young buyers and maybe they weren’t quite ready to buy, but they can’t find anything to rent.”

“With interest rates still low, they are actually finding they can buy something cheaper than what they can rent.”

The housing market in Benzie, Leelanau, Antrim, Kalkaska and Grand Traverse counties increased by 17 percent from April 2014 to April 2015.

That’s according to the Traverse Area Association of Realtors.

Business leaders like Laura Oblinger, Traverse City Area of Commerce, say this is an indicator that our economy is thriving.

“If you’ve got increase home sales, you’ve got increase people, you’ve got increased permanency and you’ve got increase investment into the economy.”

More homes being sold means more people and more jobs.

“A contractor, their work is going to increase, anytime you change hands of a home you are going to want to do something to it there are so many businesses impacted by home sales.”