Wayne County Michigan housing market

In Q1 2026, the Downriver Michigan real estate market maintains resilience, marked by steady buyer demand and a 5.8% year-over-year increase in median home prices, even amidst stabilizing interest rates. Prospective buyers and sellers must navigate tight inventory strategically, as many homeowners hesitate to sell due to previous low-rate mortgages. With current mortgage rates hovering in the mid-to-high 6% range, buyers should prioritize pre-approval and present strong offers. Sellers can benefit from low inventory but must price and stage their homes effectively to attract discerning buyers. Local expertise is crucial for success in this evolving market landscape.