Looking To Own a Home? Avoid This Michigan City Unless You’re Rich

Home sales in 2023 hit a nearly three-decade low in the U.S., and as we move into 2024, things haven't picked up much. The housing market is struggling with low inventory, higher mortgage rates, and escalating prices, keeping many potential buyers on the sidelines, hoping for a turn in their favor.  However, with mortgage rates on the rise once more, the immediate outlook remains dim.

No matter where you live right now, it's hard to own a home. But, if you plan to buy one in West Michigan there is one city that will be nearly impossible right now to call home.

As we gear up for the busy spring homebuying season, CreditNews Research has ranked the fastest-selling housing markets among America's top 100 most populous metropolitan areas, and one of the top five is right here in West Michigan.

According to their research, Grand Rapids is one of the hardest markets to buy a home in 2024.

They say if you're planning to sell a home in Grand Rapids, you're in luck, becuase the median days-to-pending is 10 days, meaning most homes are only on the market for less than two weeks.

Read More: 9 Items You Should Never Buy at a Michigan Garage Sale

Having such a quick turnover means that people in our area are likely bidding over asking, paying cash over the cost, and skipping inspections in order to secure a home, which could cause massive problems in the future. If our housing market were to crash, a lot of people who have purchased homes will be underwater on their mortgages after overpaying to secure their deal.

Grand Rapids has been sitting on this list for nearly a year, showing that our housing market isn't seeming to slow down. Right now finding rentals, homes to purchase, or just a place to live in general can be very difficult. So, if you're thinking about moving to Grand Rapids within the next year, you may want to rethink that decision and try one of our nearby neighboring cities instead.