APRIL SALES STATISTICS SHOW MEDIAN PRICES UP FOR MOST MLS AREAS

The median sale price for the entire MLS coverage area rose by 20% as compared to last year.

By LONA O'CONNOR Palm Beach Post Staff Writer Posted: 11:34 p.m. Monday, May 14, 201 An email circulating on the Internet claims anyone who sells a house after 2012 will be hit with a new 3.8 percent sales tax, thanks to an obscure clause in the Patient Protection and Affordable Care Act. A cause for concern? The 3.8 percent tax is real, but it affects only people with high incomes who make large profits on the sales of their homes.

The Wall Street Journal - Friday, April 27, 2012 As of 10:01 AM Home Buyers are Stunned!  A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.....Read the Article The Pearson Group has seen "Bidding Wars" with numerous offers on the houses they recently listed.

As the market recovers, there will be fewer months where we beat the prior year. Such is the case with March 2012. In terms of new contracts written, numbers continued to show improvement over March of last year. Across all of our markets Closed Sales were down just a bit from last year. This is not a cause for concern (it would be if there were three months of decline).

Market Summary for Southeastern Michigan

Dan Elsea, President of Brokerage Services for Real Estate One

April 25, 2012

The latest Case-Shiller Report shows further improvement for both Michigan and Florida. Case-Shiller is still showing most markets are still finding their bottom, in terms of value. From what we are hearing from brokers across the country the value bottom was set late last year. Also most brokers have seen the same shortage of salable inventory, thus rising prices.

Michigan and Florida are both Hitting the Top of the Lists....this time it's not in foreclosures,  we are seeing an increase in home values.