Detroit is Roaring

Detroit is roaring!  While the Lions are having their best football season in over 30 years, I’m talking about the housing market.  In November, it was the hottest real estate market in the country with prices rising 8.7% year-over-year.  That was higher than Miami’s 8.3% and Miami had held the #1 spot for 16 months in a row.  Generally I just talk about the Austin real estate market or sometimes the national numbers, but this stat just caught my eye, because, well, it’s Detroit.  I imagine a lot of people think of Detroit like I do – a city whose best days are behind it, whose population peaked in the early 1970s, and whose real estate market is nothing to write home about.  As it turns out their median home price is $80,000 while Central Texas is almost six times that with a median over $450,000.  So while it doesn’t mean much to us, I just wanted to give Detroit a shoutout.

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