Detroit-Livonia-Dearborn, MI
Local Market Report
Market Summary

Third Quarter 2015. Economic growth was negative for many years. The economy features large healthcare and business services sectors. Overall, job growth was good in recent months. Growth in the business services sector was fair.

During the recession, home prices dropped a sharp 40 percent. Michigan was an epicenter of subprime mortgage lending. Population growth has been low. Rents are high compared to home prices, presenting investment opportunities. Over the last three years, prices were up 27 percent. But speculation in foreclosed properties clouds the data. Prices are still well below the income price, showing weak fundamental demand. Expect a moderate housing market the next few years.

Home Price Change Download Historical Data to Excel Download Historical Data to Excel
Long-term Forecast Chart
Actual and Equilibrium Home Prices Download chart data to Excel Download to Excel
Download quarterly data to Excel Download to Excel
Actual and Equilibrium Home Prices and Forecasts
 

Detroit-Livonia-Dearborn
Job Growth Rate Download chart data to Excel Download to Excel
Job Growth Chart
Occupied Housing Units Download chart data to Excel Download to Excel

Detroit-Wayne County
Occupied Housing Units
Vacant Housing Units Download chart data to Excel Download to Excel
Detroit-Wayne County
Vacant Housing Units

Detroit-Livonia-Dearborn
Local Capitalization Rate Download chart data to Excel Download to Excel
Investment Cap Rates Chart
Population Growth Download chart data to Excel Download to Excel
Population Growth Chart
Home Price and Rent Change Download chart data to Excel Download to Excel
Home Price and Rent Change Chart

Detroit-Livonia-Dearborn
Rent per Month Download chart data to Excel Download to Excel
Gross Rent Chart
Housing Permits Download chart data to Excel Download to Excel
Housing Permits Chart
Vacancy Rates Download chart data to Excel Download to Excel
State of Michigan
Vacancy Rate Chart

Detroit-Livonia-Dearborn
Employment by Industry Download chart data to Excel Download to Excel
Industry % of Total US % of Total Jul 2015 12-Month Job Growth US 12-Month Job Growth
Construction/Mining 3% 5% 22,000 +6.8% +3.5%
Manufacturing 12% 9% 87,800 +3.4% +1.2%
Finance 5% 6% 35,100 +3.2% +2.0%
Retail Trade 9% 11% 67,700 +0.3% +2.0%
Business & Prof. Services 17% 14% 123,100 +3.4% +3.6%
Health Care & Education 18% 15% 133,100 +4.6% +2.8%
Tourism/Hotels 11% 11% 78,500 +1.8% +3.0%
Government 11% 15% 78,800 -2.6% +0.4%
Total 100% 100% 736,200 +2.3% +2.1%

Unemployment Rate Download chart data to Excel Download to Excel
Unemployment Rate Chart
Home Price Forecast Accuracy Download to Excel Download to Excel
12-Month Forecast Chart