There are so many rumors and predictions as to the real estate market and its recovery process and it varies from state to state and town to town. The housing market in Holland, Michigan for 2011 is showing signs of recovery but whose to say if it will continue to climb, remain at a plateau, or falls down again. The statistics retrieved from South and West Michigan Regional Information Center (SWMRIC) shows that from January 1, 2011 to June 1, 2011there has been 515 single family residential homes sold with an average selling price of $143,818. The number of single family residential homes sold from January 1, 2010 through June 1, 2010 was 632 homes with an average selling price of $132,026. The month with the highest number of homes sold was in April with 141 homes selling, The month of May had the highest average selling price of $167,098.
Foreclosures have really created a housing market that is attractive for buyers but sellers are having a hard getting the value of there home they would like because the selling price has been pulled down due to all the forclosures. According to Forbes "Atlanta, Cleveland, Detroit and Las Vegas real estate is now valued below their January 2000 levels." And the Wall Street Jounal says that "home prices have sunk to 2002 levels, effectively wiping out almost a decade’s worth of home equity across the U.S. Home prices nationally are down by about a third from 2006 levels."