Michigan
Local Housing Market · Zillow ZHVI · July 2026
$269,576
Typical Home Value
▲ 4.0% YoY ▲ 0.12% MoM
6.65%
30Y Mortgage Rate
PMMS · Aug 20, 2026
9bps
YoY Rate Change
▲ Higher than 1yr ago
195bps
30Y/10Y Spread
Norm ~170bps
🏘 Michigan Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$269,576
▲ 4.0% YoY
Month-over-Month
▲ 0.12% MoM
July 2026
Data Period
July 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
6.65%
PMMS · Aug 20, 2026
15Y Fixed
5.95%
PMMS · Aug 20, 2026
1yr Ago 30Y
6.56%
▲ Rates higher now
30Y/10Y Spread
195bps
Tight · norm ~170bps
Freddie Mac PMMS via FRED · National rates · State-specific rates may vary slightly
📋 Realtor.com Market Data · Michigan
Market Indicators
REALTOR.COM🏦 LO Market Signal · July 2026
• Inventory is up 12.8% YoY and listing prices are softening 2.2% YoY with 19.6% of listings carrying a price cut. Appraisal risk is lower, but watch for value gaps on pending deals.
• Homes are selling in a median 41 days — a moderate-paced market. Pending ratio is 0.57 — strong buyer demand, expect competitive purchase timelines.
• New listings are increasing 5.9% YoY. More sellers entering the market supports purchase loan volume.
Median Listing Price
$310,000
▼ 2.2% YoY
Median Days on Market
41d
0d YoY
Active Listings
26,018
▲ 12.8% YoY
New Listings
15,122
▲ 5.9% YoY
Price Reduced Share
19.6%
of active listings
Pending Ratio
0.57
pending ÷ active
Realtor.com Research · State-level inventory data · Updated monthly
Hottest Markets in Michigan
REALTOR.COMTop metros by national hotness rank (supply + demand composite) · July 2026
Monroe
▼ COOLING
National rank #19
Median Price
$312,950
Median DOM
39d
Demand score 100/100
Lansing-East Lansing
▼ COOLING
National rank #34
Median Price
$254,725
Median DOM
35d
Demand score 77/100
Ann Arbor
▼ COOLING
National rank #42
Median Price
$491,500
Median DOM
36d
Demand score 73/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply