Metropolitan Statistical Area (MSA):
Owosso, MI is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Owosso, MI metropolitan statistical area (MSA) is in the midst of a housing market trend. The combination of low interest rates and an improving economy has led to an increase in home sales and prices in the MSA.
According to the most recent data from the National Association of Realtors, home sales in the MSA increased by 9.4% in 2016, while the median price of a home rose by 6.5%. This trend is expected to continue into 2017, as more buyers enter the market and competition for available homes increases.
The rise in home prices is being driven by a number of factors, including population growth, job creation, and low mortgage rates. In addition, many buyers are taking advantage of historically low prices on foreclosed and distressed properties. As a result, there is now less inventory available for sale, which is putting upward pressure on prices.
If you are thinking about buying a home in the Owosso MSA, now is a good time to do so. Prices are expected to continue to rise as demand remains strong. However, you may want to consider locking in your mortgage rate before they start to increase again.