After a really "down" fall and winter in the Ann Arbor Area real estate market, January 2006 has started off looking positive. The phones are ringing and showings on listings are up. There's still an oversupply of listings and not enough buyers, but with the slowdown on housing starts, the numbers are not as bad as during the fall.
Mortgage rates are still exceptionally good, typically 6.25% on a 30-year fixed rate mortgage. If you were a homeowner in the 1980s, when rates were 14-20%, you can appreciate how great our rates are today!