Dave Rukkila Real Estate

06/02/2026

SOUTHEAST MICHIGAN REAL ESTATE MARKET UPDATE
Mid-Year 2026 |
As we reach the midpoint of 2026, the Southeast Michigan housing market continues to demonstrate remarkable stability and opportunity — both for homeowners looking to build equity and for buyers ready to make their move. Whether you are thinking about selling, buying, or simply curious about the value of your home, this update is designed to give you a clear, honest picture of where things stand today.

📊 Sales Activity: A Market Finding Its Footing
Southeast Michigan continues to stand apart from much of the country as one of the most stable residential real estate regions in the Midwest. After years of extraordinary price acceleration, the market has shifted into a healthier rhythm — one that favors both informed buyers and strategic sellers.
Home values across the region have appreciated at a rate of 3–5% year-over-year, with select neighborhoods and price segments in Livingston County and the greater Ann Arbor/Ypsilanti corridor seeing appreciation closer to 10% in 2025, outpacing the national average. The statewide median sale price has climbed to $364,750, a 4.24% increase from a year ago — a sign of sustained demand rather than speculative overheating.
Homes are currently spending an average of 56 days on the market statewide — slightly longer than last year's pace but still well within a competitive range. Sellers are receiving approximately 98% of their asking price on average, meaning the days of reckless overbidding have eased, but sellers remain firmly in control in most communities.
One notable trend: cash purchases are making up a larger-than-usual share of local transactions. This reflects the continued presence of well-capitalized buyers in the Southeast Michigan market and creates a dynamic where financing strategy matters more than ever for those using a mortgage.

🏦 Mortgage Rates: Slowly Easing, Still Elevated
If you have been waiting on the sidelines for mortgage rates to "come back down," the good news is that they are gradually moving in the right direction. The bad news: we are not returning to the historic lows of 2020–2021 anytime soon.
Current Michigan Mortgage Rate Snapshot (June 2026)
Loan Type
Average Rate (APR)
30-Year Fixed
~6.48%
15-Year Fixed
~5.87%
5/1 Adjustable-Rate (ARM)
~6.55%
Sources: NerdWallet/Zillow, May 2026

Rates have dipped meaningfully from the near-8% levels seen in late 2023 and are trending lower. For context, rates are now roughly 47 basis points lower than a year ago — real progress that is beginning to bring previously sidelined buyers back into the market. Economists broadly expect continued gradual declines through the remainder of 2026, which should further expand the pool of qualified buyers and support home values.
For homeowners who purchased at rates near 7–8%, refinancing activity is already picking up. Michigan saw a 33% year-over-year increase in refinance applications in mid-2025 — a trend expected to continue as rates ease further.

🏠 Housing Availability: Tight, but Improving
Inventory — or the lack of it — continues to be the defining challenge of the Southeast Michigan housing market. With just 1.25 months of supply available statewide (a balanced market typically has 4–6 months), buyers still face real competition for well-priced, move-in-ready homes. That said, there are signs of improvement.
New listings are up approximately 9% compared to a year ago, providing buyers with more options than they have had in years. Forecasts call for overall inventory growth of 5–10% through the end of 2026 — enough to ease the most intense competition without tipping the market in favor of buyers.
Local Highlights:
Ann Arbor & Washtenaw County: Remains one of the most competitive sub-markets in the region, driven by university employment, healthcare sector growth, and consistent relocation demand. Move-in-ready single-family homes and downtown condos continue to attract multiple offers.
Wayne & Macomb Counties: Offer some of the most accessible price points in the metro area, attracting first-time buyers and investors. Neighborhoods here have seen steady appreciation with less bidding-war intensity than the western suburbs.
Livingston County (Brighton, Howell, South Lyon): Continues to attract buyers seeking more space at relatively accessible prices compared to Oakland County. Appreciation in this corridor tracked at the higher end of regional ranges in 2025.
New construction is beginning to play a larger role in filling the supply gap, with national and regional builders accelerating delivery of development-ready land in preferred Southeast Michigan submarkets. This pipeline is expected to provide meaningful relief to inventory over the next 12–24 months.

✅ The Bottom Line
Southeast Michigan real estate in mid-2026 is best described as stable, strategic, and opportunity-driven. This is not a market of panic or frenzy — it is a market that rewards preparation and local knowledge.
If you are a homeowner: Your equity position is strong. With prices up 4–5% annually and inventory still constrained, well-priced homes in desirable neighborhoods continue to sell quickly and close to asking price.
If you are a buyer: More inventory and gradually improving rates mean this is one of the better windows for buyers in recent years. Acting with a clear strategy — and the right agent — is more important than waiting for a "perfect" rate that may not come.
I am here to help you navigate this market with confidence. Whether you have questions about your home's current value, are considering a move, or simply want to talk through your options — please do not hesitate to reach out. There is no pressure and no obligation. Just honest, local expertise working for you.

Warmly,
Dave Rukkila, Licensed Realtor Since 2002
Moving The Mitten Real Estate Group, 734-646-6513, [email protected]

Market data sourced from NerdWallet/Zillow, Houzeo, Bankrate, ATTOM, and regional MLS reports (2025–2026). Statistics reflect statewide and regional trends; individual neighborhood conditions may vary. This communication is for informational purposes only and does not constitute financial or legal advice. Contact a licensed real estate professional for guidance specific to your situation.

05/04/2026

Is Late May the Best Time To List Your House?

Zillow says the best time to list your house is just around the corner. Are you ready to make the most of it?

If you want to take advantage of this Spring sweet spot and get top dollar for your house, let’s talk about what you need to do now to get ready to hit the market.

You may have heard April 12-18 was the “best week” to list your house.

05/01/2026

Spring always gives sellers an edge.

But data shows there’s a short window when that advantage really peaks – and it’s usually the last two weeks of May.

While it can vary by market, that's when buyer demand is at its strongest and competition pushes prices higher.

In some cases, that timing alone can mean a seller makes tens of thousands of dollars more.

If you’re aiming to sell for top dollar, this is the moment to watch.

Want to see what it would take to get your house ready for it? Let’s talk.

04/29/2026

Stay or Sell? How To Make the Right Call as You Age

There’s no one-size-fits-all answer here.

Some people stay and make updates. Others move to simplify things. Either can be the right choice. The goal isn’t to pick one today. It’s to understand your options early, so when the time comes, you feel confident instead of rushed.

And if you ever want a sounding board to think through what the future could look like for you, let’s connect.

At some point, as you start thinking about the years ahead, this question tends to come up...

04/27/2026

If you’re worried the number of homes for sale is rising out of control...

You think prices are about to crash...

Or you’re holding off because you think rates are about to drop dramatically...

Here’s what I want you to know.

While you may be hearing those things online, the data doesn’t back any of that up.

So, if you’re reading something or you see a post online that makes you second guess if you should move right now, don’t just take it at face value. DM me.

I’ll tell you what the data really says about the housing market today, so you can make a decision about your timeline that’s based on fact, not fear.

04/24/2026

More Options Are Popping Up This Spring

More fresh listings are hitting the market right now, and that’s creating real opportunity.

If you put your search on hold last year, this Spring may be the time to jump back in. Let’s take a look at what just hit the market and see what could work for you.

Did you try to buy a home last year, but you ended up pressing pause?

04/22/2026

Not every house is selling for over asking anymore.

In fact, it’s down to about 1 in 4 homes today, compared to nearly half in 2021.

And that's a good sign for buyers. It means the market is getting back to normal.

Now, this is going to vary by area. But overall, it means you may find sellers with more wiggle room on their price today. And in a lot of places, negotiation is back on the table.

Let’s make the most of it.

Want to find out what to expect if you're buying in our local market? DM me.

04/20/2026

Want to make a move, but you're worried it’s going to take longer than you’d like? Here’s what you need to know.

The average home is taking about 57 days to sell. And that actually isn’t slow. It’s normal.
No matter what you’re reading online, know that the market hasn’t stalled. And neither has your move.

The reality is homes that are priced and positioned right are still selling. So, if you want to move, you can.

Let’s talk about how to set your house up to sell quickly in today’s market.

04/17/2026

Rent or Buy? The Real Tradeoff Most People Don’t Talk About

Renting may feel more do-able today. But over time, it could cost you.
If you want to ditch renting and start building something for your future, it starts with a simple conversation. Let’s connect, talk about your specific goals, and explore your options – so you’re ready when the time is right for you.

You’ve probably asked yourself lately: Is it even worth trying to buy a home right now? It’s a question a lot of people are asking.

04/15/2026

Wondering If You Should Still Buy a Home Right Now? Here’s What To Keep in Mind.

Even though there’s some uncertainty, that doesn’t mean you’re out of options.

If you need to move, you still can. Let’s connect so we can explore all your options and make your move happen.

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With economic headlines, global events, and near constant talk about affordability, you may be wondering if this is the right time to move.