KALAMAZOO (WKZO) -- It is not exactly a rebound nationally, but it appears that the housing market is slowly on the mend, at least in West Michigan. But it’s may be a slow and bumpy ride.
Some economists say housing prices may never rise to the level they were just before the Wall Street Metldown and the great recession.
The Greater Kalamazoo Association of Realtors reports that housing sales were down a bit from July to August, but still up 40% over last year. As long as there are a lot of foreclosed homes on the market, prices will remain low.
It’s bad news if you are a seller but good news for buyers.