May 2009 Residential Sales Statistics For Oakland County Michigan

Residential Real Estate Statistics for Selected
Cities in Oakland County Michigan

May 2008 Compared to May 2009
Information Source: July 2009 Metropolitan REALTOR®

Summary:
The May 2009 Sales figures reflect the continued trend of increased sales volume with decreased median sales prices. The good news is that for Oakland County, listing inventory is down by 21%. At some point supply and demand should stabilize.

These numbers also make it clear that buyers should buy now. There has never been a better time to buy a home. First-time home buyers should move even faster as the First-Time home buyer Tax Credit is set to expire on 12/01/2009. Interest rates remain low and home prices have come way down from 5 years ago.