Real Estate Demand Is Growing In Greater Lansing
The first four months of this year started at a slower pace than normal and behind last year and we were puzzled because we saw all the ingredients for a very strong housing market here in greater Lansing.
- The first and fundamental driver of housing growth is consumer confidence supported by employment growth and economic stability. Greater Lansing has that .
- The second driver is affordability supported by average selling price, low mortgage interest rates and access to mortgage financing. Greater Lansing has that.
- A third stimulant to housing growth is rising rental rates contributing to a favorable buy vs. rent decision. Greater Lansing has that.
Debbie Barnett authored a more thorough analysis of the market and what is likely to happen the rest of this year in the July edition of the Greater Lansing Business Monthly and here is the link to that article.
Very robust sales volume in May and June encourages us to predict a very strong year for real estate sales in greater Lansing.