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Watch Local 4 News at 7 a.m. right now on Local 4+

Streaming on ClickOnDetroit and Local 4+ from 7 a.m. to 8 a.m. weekdays.

A wind advisory in effect for 7 regions in the area

See the complete list

4 school closings or delays reported

See the complete closing list

LIVE

Watch Local 4 News at 7 a.m. right now on Local 4+

A wind advisory in effect for 7 regions in the area

4 school closings or delays reported

HOUSING MARKET


Rocket Mortgage launches new program to help Detroiters save up money to become homeowners

Rocket Mortgage is launching a new program aimed at helping some of the country’s most renter-rich cities become places for thriving homeowners.

These zip codes have the highest home values in Metro Detroit

We’re exploring home value data across the area, and identified the 15 zip codes with the highest average home value in Metro Detroit.

Map: Here’s the average home value in each Metro Detroit city

See our map of average home values in each Metro Detroit city as of September 2022.

Hopeful homebuyers: How to make your offer stand out

The residential real estate market in Metro Detroit and across the U.S. is more competitive than it’s been in years.

5 benefits of refinancing your home

A broker is sharing advice financial advice for homeowners and potential buyers.

How the government is addressing housing issues

As part of an initiative to create more affordable housing and an increased inventory of homes, President Joe Biden recently announced his administration wants to make single-family homes less available to investors.

Are you able to find affordable housing? That’s the question on our next episode of ‘Solutionaries’

When you hear the term “affordable housing,” what do you think of?

How did the housing market get so crazy? These 4 reasons help break it down

It’s been a strange time, living through a global pandemic. What first might have come as a surprise, is the housing boom that followed -- and the fact that things have stayed red hot.

Report: Inventory, sales of new homes show slight increase in July

There are understandable concerns from homebuyers about inventory and sky-high prices, but there might have been recent some encouraging news to help alleviate those worries.

What’s new lately with housing? Are we headed for a market crash?

Just in the past few weeks, the Biden administration announced it would take steps to address a severe housing shortage in the U.S.

You paid HOW much over asking? Tell us your wild housing market stories here

We’ve all heard about it by now: Houses are selling like crazy (and they have been for quite some time), interest rates have been at all-time lows, and it seems like everywhere you turn, you learn of another wild real estate story.

Is the hot housing market cooling off?

Homes continue to be listed and sold at break-neck speeds across the U.S., but the market is finally seeing a shift in demand.

Some good news for home buyers

It’s a cut throat housing market right now but there is some good news.

Meet the 96-year-old man credited with saving his street in Detroit

In the 70s Andrew Starks, a retired bus driver, noticed houses on his block were vacant -- so he started buying them.

U-M: Eviction filings in Michigan fell 65% in 2020 compared to prior years

U-M researchers found that overall cases resulting in eviction orders decreased during the pandemic, boosted by Michigan’s Eviction Diversion Program.

Metro Detroit real estate market: Buyers beware in spring-summer 2021

Real estate during the pandemic has been a challenge in itself, but now there’s a new challenge: Inventory lows are now down to a one-month supply. You also have had existing homeowners that have taken advantage of the low interest rates and have refinanced,” said Schneider. Macomb County homes are selling the quickest, selling in less than a month on average. “It’s been a bit of a tightrope act, you know, as far as do you buy first and then put your house on the market? In this market, you can probably get away with that as a buyer-seller a little bit easier -- go find what you like, put your offer on that.

Property values go up in nearly every Detroit neighborhood

DETROIT – Officials with the city of Detroit announced Thursday that property values increased an average of 8% for the city. Still, there are those who think the assessing process is weighted against the city’s poorest, and Duggan is challenging those claims. “Property values in the city went up 8% last year,” Duggan said. Duggan presented a map of Detroit where green areas meant increased values and red meant decreased. Detroit is a unique market and you can’t get those nuances simply from a sales study.”The official data from the city of Detroit can be found here.

Expert calls Detroit housing, rental market ‘kind of wacky right now’

DETROIT – If you’re looking to buy or rent a house in Metro Detroit, you already know you need to act fast and be ready to pay. There are some major factors leading to a booming rental market, especially in the suburbs of Detroit. But there’s also nuance to consider, as the entire housing market is changing right before our eyes. “The market is kind of wacky right now,” Carberry said. I guess the weirdest thing about Detroit right now is it’s following a normal trajectory we would expect in a non-pandemic year.”Many renters are searching for a new home and finding the process infuriating.

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