Despite inventory and affordability challenges, buyers remain vigilant in searching for their new home. In the past four weeks, overall showings across Michigan markets were up 19% compared to the same time last year. In the upper-end markets, the jump in activity is even greater—up 49% in the over-$750k market. In Northwest Michigan, 31% of May closed sales were above full asking price, while another 26% were full price (57% at or above full price). Despite the challenges, buyers continue to wait and compete for move-in ready homes.
