Southeast Michigan Housing Market Update — July 2026

Every month I break down what's actually happening in the Metro Detroit market — real numbers, not headlines — so you know what your home is worth and what to expect if you're buying. Here's where things stand this summer.

The headline: the market woke up in June

For the first time in 2026, home sales across Metro Detroit came in higher than the year before — up 4.7% in June, according to the latest RE/MAX of Southeastern Michigan housing report. Pending sales jumped 8.8%, which tells me that momentum is carrying into July and August. And homes are moving fast: the average listing sold in just 22 days, three days faster than last summer.

County by county

Wayne County posted the biggest price gain of the tri-county area — the median sale price rose 4.5% to $230,000. Oakland County was the volume story: sales jumped 10% year over year, with the median price up 3.9% to $395,000. Macomb County stayed steady, with the median up 3.3% to $279,000. Prices rose in every jurisdiction across the region — including the city of Detroit, where the median climbed 4.4% to $106,000 even as sales there cooled.

Mortgage rates: drifting down

The 30-year fixed rate is sitting around 6.5% as of late July, and Fannie Mae expects rates near 6.4% for the rest of the year. That's not the 3% of years past — but every quarter-point drop puts more buyers back in the market, and those buyers are competing for a limited number of well-presented homes.

What this means if you're selling

This is a strong but honest market. Homes that are priced right and presented well are selling in about three weeks, often with multiple offers — but buyers have more choices than they did a year or two ago, so overpriced listings sit. The sellers winning right now are the ones who prepare before listing and price from real comparable sales, not wishful thinking. If you want to know what your home would actually sell for this summer, I'll run the comps for you free — no pressure, no obligation.

What this means if you're buying

Inventory is the best it's been in years, which means you can actually be selective — a real change from the frenzy of a few years ago. But with pending sales up nearly 9% and rates edging down, waiting has a cost: more competition is coming back. Get pre-approved and ready to move, because the good homes still go in days, not weeks.

Sources: RE/MAX of Southeastern Michigan June 2026 Housing Report; Freddie Mac Primary Mortgage Market Survey, July 2026. Market data reflects June 2026 closings in Macomb, Oakland, and Wayne counties.