Grand Rapids and Lansing, Michigan Remain 2022 Housing Market Leaders

Grand Rapids and Lansing, Michigan Remain 2022 Housing Market Leaders

 

Grand Rapids and Lansing, Michigan Remain 2022 Housing Market Leaders

 

Grand Rapids and Lansing, Michigan continue to hold their place on the list of top 50 places to live in the US. With a hot job market, affordable homes, and a reasonable cost of living, it’s easy to see why both areas remain popular.

According to Real Estate research group, Trulia.com, the same reasons have created a large number of home buyers under the age of 35 and have heated up West Michigan demand in that group. For that reason, the area has begun to see several other trends emerge.

Many Millennials are choosing to buy or build in neighborhoods that are outside of urban areas but still provide easy access to nearby cities. Instead of moving to the city itself, buyers are recognizing the lower costs and high availability of affordable homes that exist just outside of the city limits.

That trend has had another interesting effect. Instead of choosing “24-hour cities” such as New York or Los Angeles, Millennials are instead moving to “18-hour” destinations, such as Grand Rapids, where late-night cultural and social opportunities exist but stop short of all-night action. The slight reduction in social opportunities also creates lower housing prices.

Other interesting shifts in buying trends are driven by rising opportunities in areas that are experiencing a renaissance, and also by Green living options. Energy efficient housing, such as those offered by Eastbrook Homes, are more desirable and help contribute to the rising interest in the green living movement.

As a more budget-oriented generation, Millennials recognize that purchasing a home is a smarter financial move that helps to secure their own future. For people considering a home purchase, try out Eastbrook’s mortgage calculator, where you can plug in Home Price, Down Payment, Interest Rate, and a Loan Program to see what your monthly payment could look like. 

With interest rates on the rise, now is the time to consider building or buying new. You can even lock in today’s interest rates when you go through our Financing First Loan Program! 

At Eastbrook Homes, we already know that Michigan is a great place to live. With communities throughout West Michigan, Grand Rapids, and the Greater Lansing areas we have a variety of styles, floor plans,  in environments which present affordable purchasing opportunities, including communities that offer Rural Development loan options.

No matter what generation you are a part of there has never been a better time to purchase a new home. If you are considering a new home building project for 2022, please contact the Eastbrook Homes team to discuss our available options today.

 

Published on 01/31/2022

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