WWMT - wwmt.com - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Housing market bouncing back after slow winter

KALAMAZOO, Mich. (NEWSCHANNEL 3) - The real estate market got off to a weak start this year because of severe winter weather, higher mortgage rates and an increase in prices.

Now, realtors report the housing market is starting to spike in West Michigan.

According to the Grand Rapids Association of Realtors, last month home sales were down more than 10 percent because, real estate agents in West Michigan say, they're struggling to find new listings for buyers.

"I am looking for about 18 people, and that honestly, listings are so far down, it's really hard to find anything for those people to buy," Nate Brussee of Berkshire Hathaway says.

He says if you're looking to sell, now's the time.

"We are definitely seeing an increase in prices because of just, low inventory on the market currently," Brussee says.

Recent housing reports reveal the average price of a home in West Michigan is about $160,000. That's about a nine-percent increase over the first quarter of 2013. The average home that sold in March was on the market only 64 days.

Real estate agents are predicting strong home sales this summer.