Michigan
Local Housing Market · Zillow ZHVI · May 2026
$266,964
Typical Home Value
▲ 4.2% YoY ▲ 0.07% MoM
6.49%
30Y Mortgage Rate
PMMS · Jul 09, 2026
26bps
YoY Rate Change
▼ Lower than 1yr ago
195bps
30Y/10Y Spread
Norm ~170bps
🏘 Michigan Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$266,964
▲ 4.2% YoY
Month-over-Month
▲ 0.07% MoM
May 2026
Data Period
May 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
6.49%
PMMS · Jul 09, 2026
15Y Fixed
5.82%
PMMS · Jul 09, 2026
1yr Ago 30Y
6.75%
▼ Rates lower 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 · June 2026
• Inventory is up 10.9% YoY and listing prices are softening 2.0% YoY with 16.8% of listings carrying a price cut. Appraisal risk is lower, but watch for value gaps on pending deals.
• Homes are selling in a median 38 days — a moderate-paced market. Pending ratio is 0.64 — strong buyer demand, expect competitive purchase timelines.
• New listings are increasing 4.0% YoY. More sellers entering the market supports purchase loan volume.
Median Listing Price
$310,575
▼ 2.0% YoY
Median Days on Market
38d
0d YoY
Active Listings
24,033
▲ 10.9% YoY
New Listings
15,122
▲ 4.0% YoY
Price Reduced Share
16.8%
of active listings
Pending Ratio
0.64
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) · June 2026
Monroe
▼ COOLING
National rank #12
Median Price
$314,750
Median DOM
31d
Demand score 97/100
Lansing-East Lansing
▼ COOLING
National rank #31
Median Price
$259,000
Median DOM
33d
Demand score 86/100
Grand Rapids-Wyoming-Kentwood
▼ COOLING
National rank #42
Median Price
$420,000
Median DOM
30d
Demand score 72/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply