A lack of available houses led to a drop in home sales around southwest Michigan in June. The Southwestern Michigan Association of Realtors says June sales were down 7% from June of 2021. Association Executive Alan Jeffries notes the current level of sales fell to that in 2014 before the market reached the peak years starting in 2016 and ending in 2019. The selling prices outpaced June of 2021’s record selling prices in the year-over-year comparison. In June, the average selling price increased 5% from June of 2021, from $346,000 to vs. $330,000. The median price was up 9% for the period. The inventory of houses for sale showed very little growth from a year ago. There was a 1% growth from June of 2021 with 820 homes available in June of 2022 versus 812 in June of 2021. Foreclosed homes made up 1% of sales for the month, the same as in May and April.
