(WXYZ) — A lot of people are buzzing about the Spring housing market. This week is the "peak week" of the year to list your home for sale, according to Realtor.com.
It's also a prime time for buyers looking for their next move, and I'm getting expert advice for those looking to buy or sell a home.
See the full story in the video below
Darius and Arrice Shipley of Farmington Hills have been looking for a house in Wayne or Oakland County for about a year and a half. They moved in with her parents in May of 2025 of help save for a down payment and other expenses.
”What are the biggest challenges for looking for a home right now?" I asked.
“The biggest challenges are definitely the price ranges, because even though you put down for a house, like, you still have to compete," they said. “Offering near the sales price is kind of probably where we're at. Especially if you really, really like the home and you want to be competitive, obviously you want to go over.”
”Buyers are paying 99% of list price. And that was in March," Jeanette Schnieder, the president of Re/Max of Southeastern Michigan, told me.
Schnedier said that mortage rates in Michigan are currently around 6.3% for a 30-year fixed, and that buyers are starting to move, with pending sales last month up 9.1% compared to March of last year.
”How quickly are homes selling right now once they're listed?” I asked.
”It's interesting because in March, when we ran our most recent full month housing report, it was about 39 days. Already in April, in many counties, it has come down. In Oakland County, as of this morning, it was like 29 days," she said.
She shared these tips with me for home buyers.
- Get pre-approval from a mortgage lender to define your exact budget. It proves to sellers that you're serious and makes your offer more competitive
- See homes as soon as they come on the market so you don't miss out on prime listings iwth higher inventory but equally high competition
- Consult your real estate agent about your offer to ensure it's a fair price in your interest, but one that will also stand out, especially if there's a bidding war
She also shared this advice for sellers:
- Meet with a real estate agent to learn market trends in your specific neighborhood
- Price your home strategically to reduce time on the market and attract serious buyers
- Don't start too many improvement projects. You might miss peak buyer demand due to delays, or overspend, risking that full return on your investment
- Don't focus on creating a good first impression. Instead, think curb appeal, staging, deep cleaning and de-cluttering
“What would you like sellers to do to get their home ready for you?” I asked
“A little more updated," Darius and Arrice said. "Making sure that the house is clean as well would be nice.”
The Shipleys said they can't wait to find their home sweet home. They are also making sure they calculate the estimated cost of property taxes and homeowner's insurance when making their offer, so they know they'll be able to live within their means after they find their house.
The takeaway is...if you're a buyer, have your ducks in a row for a competitive offer so you can pounce when you find what you want.
If you're a seller, get your home on the market in the next few weeks
