There’s evidence of another strong seller’s market as we move into February 2022 with not nearly enough listed homes to satisfy buyer demand.

This is typically what happens when a fairly priced home is offered for sale through the real estate Multiple Listing Service.  Photos and details about the property are immediately made available on every listing service (Zillow, Realtor.com, BHHS, etc.) across the country. Buyers who have asked to be notified, are automatically alerted, and real estate agents arrange immediate showings.  Within a few days, the seller selects one from the multiple offers that have been presented, leaving the remaining buyers to wait for another home to become available.  This has become a way of life in a market with low housing inventory.

Market  View – January 30, 2022
• 440 currently listed homes for sale in the five county greater Lansing area.
• 271 homes have accepted offers. Awaiting inspections and/or appraisal.
• 351 homes are listed as Pending. Have completed inspections and will soon close.
• 7479 homes have closed in the past 12 months.

Mortgage interest rates
30 year fixed – 3.55%
15 year fixed – 2.8%