Greater Lansing Market Has Almost Recovered

A recent measurement of the percent recovery of real estate markets peak-to- trough done by Homes.com indicates that the Lansing/East Lansing market has rebounded 91.71% by the end of July 2015. The peak date was December 2005 and the trough date was March 2011 and shows a 33.30% decline. Our own data indicate a much more severe decline in average selling prices and dollar volume of transactions but we agree that we are approaching recovery.

The good news here is that there is still upside potential for growth in prices making buying a home now a good option. Potential sellers may also have options now that they haven't had for years. A discussion with a professional Realtor to see what opportunities the current market offers may be appropriate.