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This measure tracks the count of active single-family and condo/townhome listings.  It excludes pending listings.   The supply of homes listed for sale is important to track, as changes to supply can increase/decrease home sale prices and ultimately home values.

Housing: Active Listing Count

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.  The default view shows the 12-month percent change, but the index values are available too.  There is also data available for the United States.   Data for the Detroit-Warren-Dearborn CBSA are available on a bi-monthly basis, but data for the U.S. is available monthly; therefore, the observation for the Detroit region is repeated in the month not published.  Changes in consumer prices are important to track, as inflation impacts residents' ability to afford basic necessities.

Consumer Price Index

The Equifax Subprime Credit Population Rate is an estimate of the percentage of the population, age 18 and older and with a credit history, with a credit score below 660.   According to Fair Isaac Corporation (FICO), approximately 90 percent of U.S. population has a credit history.  Good credit allows Southeast Michigan's residents to finance significant investments like mortgages, vehicles, and home improvements - propelling our economy forward.

Equifax Subprime Credit Population Rate

This index provides quarterly estimates of housing value changes using sales prices and appraisal data.  For this dataset, the Detroit Metropolitan Statistical Area (MSA) is split into its Metropolitan Divisions (MSAD); the Warren-Troy-Farmington Hills MSAD includes Lapeer, Livingston, Macomb, Oakland, and St Clair counties, while the Detroit-Dearborn-Livonia MSAD represents Wayne county.  The default view shows the 12-month percent change, but the index values are available too.  Residential property is important to numerous stakeholders. Homeownership is the largest single asset for most residents. Owning a home creates a multiplier effect that helps local industries grow (e.g, construction, landscaping, real estate agents, and household services). Residential property is important to local government too, for it makes up more than 70 percent of Southeast Michigan's property tax base.

Housing Price Index

This measure tracks the median listing price per square foot for each county in Southeast Michigan.   Such data gives an idea as to the current direction of the housing market, for housing is the largest single asset for most residents and residential property is the largest component of Southeast Michigan's property tax base.

Housing: Median Listing Price per Square Feet

This measure tracks the median listing price for each county in Southeast Michigan.   The median listing price indicates how much is being asked for homes in the current market.    It is worth noting that listing prices are impacted by numerous factors like supply and demand, housing unit size and type, and housing unit condition.   Such data gives an idea as to the current direction of the housing market, for housing is the largest single asset for most residents and residential property is the largest component of Southeast Michigan's property tax base.

Housing: Median Listing Price

SEMCOG collects building permit data from local governments in Southeast Michigan; the data include: single-family, two-family, condominium, and multi-family units.   Building permits tell us what kind, and how much, of new residential housing is being constructed. New construction not only provides shelter, but also helps the region's economy to grow - creating a multiplier effect for industries that provide goods and services to households, as well as, providing new property tax revenue to local governments and school districts.

Monthly Building Permits

SEMCOG collects building permit data from local governments in Southeast Michigan; the data include: single-family, two-family, condominium, and multi-family units.   This chart shows the total number of building permits from the last 12-month period, giving a sense of an annual rate.  Building permits tell us what kind, and how much, of new residential housing is being constructed. New construction not only provides shelter, but also helps the region's economy to grow - creating a multiplier effect for industries that provide goods and services to households, as well as, providing new property tax revenue to local governments and school districts.

Trailing 12-Month Building Permits

Taking data from the Consumer Price Index's Rent of Primary Residence, this measure tracks the cost of shelter for renter-occupied housing units.  It includes the payment for all services provided by the landlord, such as utilities and furnishings.  Government subsidies paid to the landlord are included as well.    It is important to note, that there is sometimes a lag between market rental rates and consumer rental payments.    For example, the market rent may change while a tenant is locked into their lease.   Therefore, the tenant does not experience large increases/decreases in rents for many months, leading the index to change later than the market.  The default view shows the 12-month percent change, but the index values are available too.   Data for the Detroit-Warren-Dearborn CBSA are available on a bi-monthly basis and the observation is repeated in the month not published.   Almost 30% of Southeast Michigan's housing units are rented, thus, having trends for the rental market provides data to help formulate housing policies.

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