Housing market in mid-Michigan booming

Posted at 9:01 AM, May 25, 2016
and last updated 2016-05-25 09:01:00-04

If the housing market was slow, it has certainly picked up.

Just asked Darla Weismiller. "As soon as spring hit, we've had too many to count coming through the house," Weismiller said.

She's been trying to sell her house in Holt since the beginning of winter and now has a sale pending. "As soon as we started seeing nice weather, we started getting calls to show a couple times a week," she said.

The real estate market is booming across the United States. According to the Commerce Department, new home sales rose 16.6 percent last month, and sales of existing homes are the highest they've been since January 2008.

"Exploding, it's exploding," Debbie Barnett, President of Tomie Raines REALTORS, said. "It definitely is a seller's market. Which means that there's less inventory than buyers want and need." She says buyers have to be ready to jump when they see something they want.

"During the recession, those ugly times, it could take a year to two years to sell a house," Barnett said. "Now, in some areas, we're getting offers, multiple offers, the day the property is listed and over the asking price." The economic downturn affected the other side of the sale, too.

"We actually had our house on the market before the big crash, so we took it off because of that," Weismiller said. "Then as things started to pick up, we decided to put it back on the market again." Barnett says more people thinking about selling should make the same decision.

"For those sellers out there, don't wait, we need your home, the buyers are demanding it," Barnett said.