Detroit Housing Market Sees Stagnation in City, Growth in Suburbs

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July 31, 2015

While housing sales figures in Detroit remain paltry, the city’s suburbs are doing quite well.

CNBC reports that the median price of a home in Detroit’s suburbs, an area that includes cities like Dearborn, Livonia, and Warren, is $162,900, with sales up 13 percent compared to June of last year. Sales are down eight percent in downtown Detroit, where the median home price is $21,102.

The suburbs have flourished in part due to new jobs created by companies like General Dynamics, Delphi, and BorgWarner, all located outside of city limits.

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