Print
EmailMarket Leaders Profile: Detroit
Data and information on the Detroit remodeling market
Population: 4,425,110 (0.6 percent decrease since 2000)
Existing home sales: Q2 2009 sales were up 16.1 percent from 2008 and up 28.8 percent from Q1
Home prices:
- Down 25 percent from 2008
- Down 45.3 percent from December 2005 local peak
- Down 42.9 percent over last 5 years
- Down 27.8 percent over last decade
Homeownership rate: 74.2 percent (No. 5 among major metros)
Median household income: $53,593
Local unemployment rate: 17.7 percent (up from 9.3 percent in 2008)
Sources: Michigan Association of Realtors, S&P/Case Shiller Home Price Index, U.S. Bureau of Labor Statistics, U.S. Census Bureau
RELATED LINKS
Detroit Free Press: Detroit on brink of financial ruin
How Bad Things are in Detroit
Follow the Money: Profile of Detroit Market Leader D.A. Home Improvement
More like this
RELATED ARTICLES
Wisconsin-based window and door manufacturer cited for worldwide
export by Acting Secretary of Commerce Rebecca Blank.
The 2012 NAHB study “What Home Buyers Really Want” shows a decided preference for crown moldings. Sixty-two percent of respondents rated crown moldings the third most...
Seattle architect Ross Chapin knows all about designing smaller, smarter homes. Chapin, principal of Ross Chapin Architects, Langley, Wash., has long been a proponent of...
Search Our Buyer's Guide
Reference Library
Professional Remodeler’s annual Market Leaders list, which identifies the top...
With demand for custom design, remodeling, and renovations at its highest level since 2005, ...
Normandy Remodeling converts confined kitchen into sprawling galley.
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
