Kalamazoo-Battle Creek-Portage, MI

There is no doubt that the Kalamazoo-Battle Creek-Portage, MI CSA has been one of the hardest hit areas in the nation when it comes to the housing market. The area has seen a drastic decrease in home values, an increase in foreclosures and a decrease in new home construction. However, there are some signs that the market is beginning to rebound.

Home values in the Kalamazoo-Battle Creek-Portage, MI CSA have fallen by nearly 30% since their peak in 2006. However, they have begun to stabilize over the past few years and even show some modest growth in certain areas. The median home price in the CSA is now just over $100,000, which is still quite affordable compared to other parts of the country.

Foreclosures have also been a major problem in the Kalamazoo-Battle Creek-Portage, MI CSA. However, they too have begun to decline recently as more homeowners are able to keep up with their mortgage payments. In addition, many banks are now offering loan modification programs that can help homeowners avoid foreclosure.

The decrease in new home construction has also had a negative impact on the housing market in the Kalamazoo-Battle Creek-Portage, MI CSA. However, there are signs that this may be starting to change as well. The number of building permits issued for new homes has increased steadily over the past few years and there are now several new subdivisions being built in various parts of the CSA.

Overall, it appears that the housing market in the Kalamazoo-Battle Creek-Portage area is slowly but surely beginning to rebound from its slump during the recession. Home values appear to be stabilizing and foreclosures are declining while new home construction is slowly increasing again