November 10, 2025 | Real Estate Market Update for Northville, Novi, South Lyon, Plymouth and Metro Detroit | Insights by Jeff Duneske, Northville Realtor®

Metro Detroit Market Overview

Today’s data indicate a continued shift toward a more balanced, buyer-friendly market, as inventory levels dip slightly while pending sales and purchase applications rise. According to HousingWire, total U.S. housing inventory fell from 856,701 to 842,242 over the past week, while pending sales jumped 15.6% year-over-year. Purchase applications are also up 26% from last year, marking 40 straight weeks of positive growth.

Inventory and Listings

• Inventory growth slowed to around 16% year-over-year, down from 33% earlier in the prime selling season.

• New listings: 55,481 this week versus 48,863 a year ago, showing stable activity and no signs of seller stress.

• We are now entering the seasonal decline phase for housing inventory as 2025 comes to a close.

Despite the dip, today’s levels remain higher than last year, giving motivated buyers more options heading into the holidays.

Price Cuts and Home Value Trends

• Roughly 41.7% of homes saw price cuts last week (vs. 40% in 2024).

• Analysts forecast a 1.77% national home price gain for 2025; however, when inflation is factored in, this translates to slight real-price declines.

• Expect a calmer market in early 2026 as pricing adjusts to softer demand and seasonal slowdowns.

Mortgage Rates & Treasury Yields

• Mortgage rates currently average 6.32% (Mortgage News Daily) and 6.31% (Polly).

• The 10-year Treasury yield is currently near 4.10%, close to its yearly low.

• Mortgage spreads are narrowing, indicating healthier lending conditions. If spreads normalize further, rates could drop closer to 5.83%–6.03%.

Lower yields are being driven less by inflation and more by a softening labor market, which could support buyers as they head into 2026.

Who’s Selling in 2025

According to BAM and NAR, today’s sellers look much different than a decade ago:

• Average seller age: 64 years old (a new record).

• Median ownership tenure: 11 years.

• Motivations: Lifestyle and family now drive most moves — not profit.

• The top reasons for selling are moving closer to family (26%), downsizing (10%), and upsizing (10%).

This reflects a mature, equity-rich seller base who values connection, comfort, and life balance over urgency.

Market Speed and Satisfaction

• Median time on market: 4 weeks (up from 3 weeks in 2024).

• 1 in 10 homes sold within the first week.

• Homes priced accurately sold for 100% of the list price.

• 66% of sellers were “very satisfied” with the process, underscoring continued confidence in agent-led sales.

Key Takeaway

As inventory dips and mortgage rates hover in the low sixes, the market remains steady yet selective. Buyers have more breathing room than last year, while sellers, motivated by lifestyle changes, not pressure, continue to achieve strong results with the right strategy.

Whether buying, selling, or rightsizing, now is the time to plan your 2026 move with a clear strategy and trusted local insight.

Explore Homes for Sale Across Metro Detroit

Looking for your next home in Southeast Michigan? Explore current listings and market insights in your favorite communities:

🏡 Northville Homes for Sale
🏡 Novi Homes for Sale
🏡 South Lyon Homes for Sale
🏡 Plymouth Homes for Sale

Each link connects directly to local market updates, active listings, and neighborhood insights curated by Jeff Duneske, Northville Realtor®, your trusted real estate resource across Metro Detroit.

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Jeff Duneske, Northville Realtor® - Keller Williams Advantage
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