Real estate sales slow while home values surge reducing affordability for some would-be home buyers. Housing starts rose 6.3 percent with almost all gains coming from apartment construction.
High-end apartment and condo construction is going on in and near downtown Ann Arbor with several projects also in the planning process. The price of land, cost of construction and cost of municipal requirements are driving developers to build and market high-end luxury units.
Up to 50% of housing in Washtenaw County’s urban core is rental property. Landlords of small rentals of one to four unit properties may be able to get special financing for energy efficient retrofit projects. A2energy Loan Fund provides loans of up to $8,000 per property. Funds for the program are limited.
Source: New York Times
Source: Detroit Free Press
Source: Ann Arbor City Government