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RE/MAX releases June metro Detroit housing report, home prices up 7.5 percent

Excerpt

RE/MAX of Southeastern Michigan released its latest housing report of metro Detroit for the month of June.

The shortage of available homes continues to impact the market, driving up home prices. A total of 5,271 homes were sold this June, meaning home sales have increased 0.6 percent from last year. Home prices are 7.5 percent higher than last year, with a June median sales price of $206,502. Oakland County saw the biggest increase in home prices over last year at 10 percent. However, Livingston, Macomb, and Oakland counties each saw decreases in total home sales.

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