Detroit and its burbs are hot properties compared to the rest of the country. A national home price index reports Detroit area homes appreciating at the third-highest pace in the nation, year-to-year.
Excerpt:
"The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.5% in November compared with the same month a year ago. That’s the largest year-over-year gain in six years.
All but one of the cities in the index posted annual gains. The largest gains were in Phoenix, where prices jumped nearly 23%. It was followed by San Francisco, where prices rose 12.7%, and Detroit, where prices increased 11.9%."
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