The State of Michigan “Three Week Pause” order for November 15 through December 8 suspended open houses but has not interrupted real estate sales. It remains an active seller’s market with enthusiastic buyers taking advantage of exceptionally low priced mortgage money.
Mortgage Rates at 2.72%
2.72% is the current 30 year interest rate going into December. This monthly mortgage payment will cost a buyer $4.07 per each thousand of borrowed money.
Sales and Inventory of Residential Homes as of November 29th
713 currently active listings. (Entire Lansing area market area)
338 homes with accepted offers.
501 homes pending a closing date.
6,304 homes have closed since January 1, 2020.