This is no joke! Limited housing inventory will continue into the Spring of 2022.

Through the month of March, homes that would have once been considered overpriced have received multiple offers, exceeding asking price, within the first two days of having been made available.

It remains to be seen if rising interest rates, now almost a full percentage point above last year’s rate, will influence on buyer on upcoming offers.

Market  View – April 1, 2022
• 351 currently listed homes for sale in the five county greater Lansing area.
• 255  homes have accepted offers. Awaiting inspections and/or appraisal.
• 370 homes are listed as Pending. Have completed inspections and will soon close.
• 803 homes have closed since January 1, 2022.
• 7485 homes have closed in the past 12 months.

Mortgage interest rates
30 year fixed – 4.42% ($5.02 per $1000)
15 year fixed – 3.63% ($7.21 per $1000)