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Five County Metro Detroit Housing Trend August 2005-August 2007
In most of the metro area markets, the number of homes sold peaked in 2003/2004 along with home values. From peak to trough, the number of homes sold in the five county metro area will decline close to 30%. Home values will follow a similar pattern. Even in those markets where the number of homes sold have not fallen that far from peak years, the number of available homes and foreclosures have still caused market times to increase and home values to settle to pre-2003 values.
