That article talks about Livonia, Michigan where my wife is from.
"The builders really have turned on their inventory in recent years," said Denis Berry, real estate associate for Century 21 Row in Livonia.
The added competition can hurt sales of older homes.
Lisa St. Aubin's Livonia home has been on the market about three weeks, but she hasn't had any interest other than from real estate agents wanting to list her home.
When she moved from her home in Chicago, the house sold the day it hit the market.
"I've never, ever, ever had this happen before in my life," said St. Aubin, 33. "It's not just me -- from what I understand, nothing is moving."
St. Aubin and her family want to move to shorten her husband's commute to work -- 39 miles. At $215,000, St. Aubin said her four bedroom home is underpriced by about $8,000 in the hopes that she'll attract a buyer.
"We're definitely willing to come down if that's what it takes," she said. "We just need to get out of the house."
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I think Livonia is overpriced with tiny houses (nothing like Danville though) |
