Michigan
Local Housing Market · Zillow ZHVI · March 2026
$259,857
Typical Home Value
▲ 4.0% YoY ▲ 0.39% MoM
6.37%
30Y Mortgage Rate
PMMS · May 07, 2026
44bps
YoY Rate Change
▼ Lower than 1yr ago
199bps
30Y/10Y Spread
Norm ~170bps
🏘 Michigan Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$259,857
▲ 4.0% YoY
Month-over-Month
▲ 0.39% MoM
March 2026
Data Period
March 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
6.37%
PMMS · May 07, 2026
15Y Fixed
5.72%
PMMS · May 07, 2026
1yr Ago 30Y
6.81%
▼ Rates lower now
30Y/10Y Spread
199bps
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 · April 2026
• Inventory is up 10.9% YoY and listing prices are softening 1.8% YoY with 12.9% of listings carrying a price cut. Appraisal risk is lower, but watch for value gaps on pending deals.
• Homes are selling in a median 43 days — a moderate-paced market. Pending ratio is 0.65 — strong buyer demand, expect competitive purchase timelines.
• New listings are increasing 5.7% YoY. More sellers entering the market supports purchase loan volume.
Median Listing Price
$284,225
▼ 1.8% YoY
Median Days on Market
43d
0d YoY
Active Listings
18,969
▲ 10.9% YoY
New Listings
13,116
▲ 5.7% YoY
Price Reduced Share
12.9%
of active listings
Pending Ratio
0.65
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) · April 2026
Lansing-East Lansing
▼ COOLING
National rank #34
Median Price
$223,400
Median DOM
36d
Demand score 84/100
Monroe
▼ COOLING
National rank #42
Median Price
$309,925
Median DOM
41d
Demand score 95/100
Grand Rapids-Wyoming-Kentwood
▼ COOLING
National rank #47
Median Price
$417,450
Median DOM
36d
Demand score 74/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply