Detroit home Prices outperform the suburbs again

[DetroiterOnTheWestCoast]

Average days on market, March 2018: 53
Average days on market, March 2019: 43
Percent increase/decrease: 0 percent

One mistake they made there; if the average days on market decreased from 53 to 43, it was an 18.9% decrease, not "0".

The naysayers can of course point to the still low median value in the city. However, I'd say its hard to objectively argue that these figures don't show a [[finally) rebounding market in the city. The average days on market is now the same in the city as in the suburbs and only in Detroit did the figure drop, and by quite a bit.

A median of $40,000 is certainly quite low, but its remarkably better than $28,000 in just one year.

Well of course when you're starting from such a low number, the increases will seem relatively impressive.

It doesn't just seem relatively impressive, it is. Detroit's $12,000 increase compared with Oakland County's $8,900 increase is impressive not just on a percentage basis but in absolute dollars are well.

And yet Detroit suffers a very high eviction rate among renters.
Those same people will default on a mortgage.

Except that the renters being evicted are unlikely to default on a mortgage, because they are unlikely to ever get one.