We've mentioned before that the Freep Real Estate section has a proclivity to giveth the good news and then taketh away. On Tuesday they told us with glee that "home prices in metro Detroit rose 2.7% in August, making it one of the strongest summer selling markets in the country." So we were not surprised to read this today:
Even though average home prices in metro Detroit rose by 2.7% through August, prices are still at 1995 levels, according to data released Tuesday.
Illustration by Eric Millikin for the Detroit Free Press
· Metro Detroit home prices rise 2.7% in August, among hottest in country [Freep]
· Have Detroit home prices turned the tide? [Freep]
· Free Press Real Estate Section: Rise In Detroit Home Prices Treated With Cheers Yesterday, Skepticism Today[Curbed Detroit]