The Michigan real estate market, along with the rest of the fragile Michigan economy, is tentatively trending towards a recovery, although foreclosures remain a serious problem for the state. According to an April 13, 2010 article in The Detroit News, “Metro Detroit’s residential real estate market continued to improve in March but experts are divided about whether it signals a housing rebound or a lull before a foreclosure-induced relapse.” The piece, composed by Louis Aguilar, continued to state that “The median sales price as well as the number of sales of homes and condominiums saw large jumps in most of Metro Detroit compared with the same period a year ago, according to the monthly data by Realcomp II Ltd. In Wayne County, the median sales price of homes and condominiums rose 120.3 percent to $33,050 compared with March 2009, the Farmington Hills-based multilisting real estate tracking service reported.”

That same general picture for Michigan homes for sale was portrayed by an April 13, 2010 article in Crain’s Detroit Business, which stated that “The number of homes sold in Southeast Michigan in March increased compared to 2009 despite a drop in foreclosures, according to new statistics from Farmington Hills-based Realcomp II Ltd. However, the median price for non-foreclosure sales continued its decline, though the sale price of foreclosures has shown enough of an increase to bring the overall median sale price into positive territory across the region.” The article, written by Daniel Duggan, continued to note that “Meanwhile, Ann Arbor posted higher median sales figures and unit sales, according to the Ann Arbor Area Board of Realtors, however foreclosure sales are not broken out of the data.”

An April 13, 2010 article from Click On Detroit was even more optimistic about the Michigan economy and real estate, stating that “There’s some good news for Michigan’s economy. Home sales for the month of March are on the rise. Realcomp has released a report with home sales statistics for March 2010. The total home sales rose 37 percent statewide compared to March 2009. In Metro Detroit, Oakland County saw the biggest gain with a 30 percent increase. Macomb County home sales were also up, with a 21 percent gain from last year.”