Global, National, and Local Market Update

Posted by Michael Perna on Wednesday, November 18th, 2020 at 11:16am.

Here’s how real estate looks globally, nationally, and here in Detroit.

  

 

Today I’m providing a global, national, and local real estate update. I’ll be discussing the latest jobs report, how well homes are selling, interest rates, home values, and more. So much is happening in the real estate world these days, and we want you to have all the pertinent information.

Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video.

0:05: A few key pieces of information

0:50: Introduction to today’s topic

1:00: The October jobs report

1:45: How the U.S. compares in unemployment to the global average

2:40: Who is still unemployed in the U.S.?

3:40: October saw a 14% increase in homes sold

6:10: Months of inventory has decreased by 50%

7:30: Interest rates have dropped from 4.25% to 3% in a year

8:20: If you’re a buyer, I urge you to get into the market quickly

9:55: Home values are only growing

If you’re considering buying, selling, or investing in real estate, don’t hesitate to give us a ring or send an email anytime. You can also search for homes on our website. Let us know how we can help you.

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