Metropolitan Statistical Area (MSA):

Niles-Benton Harbor, MI

Niles-Benton Harbor, MI is a Metropolitan Statistical Area (MSA) comprising counties including .

The Niles-Benton Harbor, MI Housing Market: Real Estate Trends to Watch

There is no doubt that the housing market in the Niles-Benton Harbor, MI metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching an all-time high in 2006, home prices began to plummet in 2007 and 2008, leaving many homeowners "underwater" on their mortgages. However, prices have begun to rebound in recent years, and the MSA is now seeing healthy growth in both home prices and sales volume.

One of the most notable trends in the MSA's housing market is the strong demand for "starter homes." These are typically small, entry-level homes that are priced below $200,000. Due to the relatively affordable price point, starter homes are appealing to first-time homebuyers and those who are looking to downsize from a larger home.

Another trend that is being seen in the MSA's housing market is an increase in new construction. This is likely due to the combination of rising home prices and historically low interest rates. builders are able to sell new homes at a premium price, while still offering buyers low monthly payments. This has led to a boom in new construction activity across the MSA.

Overall, the Niles-Benton Harbor, MI metropolitan statistical area is experiencing healthy growth in its housing market. Home prices are rising, sales volume is increasing, and new construction activity is booming. These trends are expected to continue into 2019 and beyond

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