As we keep a close watch on the West Michigan housing market, it's worth noting some national trends from the latest NAR Existing-Home Sales Report: existing-home sales dipped 2.0% in August, and are down 1.2% compared to last year, settling at 3.98 million units. Inventory, meanwhile, increased by 3.2% to 1.62 million homes—marking the highest supply since 2019. Median prices also nudged up 1.6% to $429,100, while mortgage rates averaged 6.67%. Our team’s deep experience—whether in Spring Lake, Grand Haven, or Muskegon—reminds us that every market shift offers new opportunities and challenges, especially for those navigating waterfront properties, single-family homes, condos, or new builds. Staying informed is key to making confident real estate decisions.
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