Wednesday, March 29, 2017 / by Paul Wolfert
Michigan home sales do usually respond in the same seasonal pattern that’s common in most other areas.
Spring and summer lead the way for weather-related, financial, school scheduling and other family-related reasons. From now into well past July (and sometimes even August), home sales activity here in Michigan and beyond can be counted on to peak.
Those are the normal expectations.
But when any segment of U.S. house sales numbers quadruple expectations even before spring bulbs see daylight, that’s worthy of special attention.
That was the case last Thursday when the Commerce Department reported that in February, purchases of newly built homes rose by more than 6%. Since The Wall Street Journal’s panel of experts had forecast 1.4%, it drew headlines.
In fact, this was the second month in a row for sharp rises in U.S. new home sales—and what could be a bright sign for Michigan’s own prospects as the spri ...