Detroit Real Estate

I hate to say it but nobody can accurately where Plymouth home prices will be in a year from now.  There are too many variables involved that we can't control.

Some of those factors are:

• the nation's economy
• Metro Detroit's economy
• Metro Detroit's unemployment rate
• interest rates
• demand by buyers
• consumer confidence
• ability for sellers to sell ( many Metro Detroit home owners are upside down and can't afford to sell)

  It is almost impossible to predict whether Plymouth home prices are going up or down.  A lot depends on the nation's and Metro Detroit's economy.  A couple of years ago I was thinking the worst, but we didn't go into a depression.

I think many people have cut back their lifestyles quite a bit.  They have adjusted to lower incomes and working harder.  But consumers are feeling a little more confident, spending money, and buying bigger purchases.  If that happens continues we should slowly climb out of this hole.  There are not going to any major Plymouth home price increases.

It is going to be a long slow upward trend if the economy improves. 

Right now I would say Plymouth home prices are relatively stable.  Not going up, but not dropping dramatically.  If the economy takes a down turn then we will see Plymouth home prices take a dive.  It is just that simple.  We need people to have jobs to be able to afford and buy homes.  Higher interest rates could also slow the Plymouth housing marketand drive prices lower.  A 2% interest rate hike could be disastrous.

But like the stock market, or the economy I don't think anybody can predict housing prices at this time.   Even the top economists I think will be off.   There are so many variables that can change the Plymouth home price directions .   So my advice to you is don't bank on any decent rise in Plymouth home prices for at least 5 years.  So plan your move accordingly.  Make your moving decision based on where you want to be and live in life. 

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