As always, we at the Kathy Toth team like to keep you informed with the local situation in Ann Arbor and around the greater Michigan region.

Economist Dana Johnson had this to say about the local economy – “Earlier this month, the Commerce Department reported that real GDP in Michigan declined 1.5 percent in 2008.  With auto sales particularly hard hit by the disruptions in financial markets and the national recession, Michigan inevitably will underperform again in 2009.  In gauging the potential for a turnaround in the Michigan economy, however, nothing is more important than the timing and vigor of the recovery of the national economy. And in that regard, the evidence of stabilization is increasingly widespread.”

To read the full release, please click here to open a PDF containing a current economic brief detailing the complete picture of Michigan at the present time.

The full release contains a boat load of useful information including graphical representation of data. One graph in particular is of interest – entitled “Michigan Residential Building Permits” showing the sharp decline of new permits being issued between 2006 and 2009. With the level of inventory available for purchase at the moment this is to be expected. After all buyers have the best opportunity for decades to purchase the home of their dreams at a great price!

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

Search all listings in Michigan with pictures and tours…Free!

Kathy Toth & Team: Ann Arbor Area Real Estate Experts

www.KathyToth.com

Keller Williams Realty

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.