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The federal government reported that the inflation rate for housing spiked to its highest rate since 1982 from September 2021-22. The U.S. Bureau of Labor Statistics says the inflation rate for the broad category of “shelter” is now 6.6%. Experts say that’s reflected in Michigan's major housing markets. ....
Metro Detroit's housing market continued its deceleration in August, along with the nation, according to a national index.The S&P Case-Shiller Home Price Index, which tracks sale prices for homes sold in a month as compared with their last sale, showed metro Detroit prices were 9.7 percent… ....
The majority of Detroit residents own the homes they live in, new Census data shows, the first time in a decade that Detroit has had more homeowners than renters. ....
More houses continue to sell in Detroit, and at higher prices, as listings in the city are on the rise. Experts say the boost in sales continues to be driven by landlords who are selling their properties in the city and renters who are looking to buy.