FROM WOTV8: GRAND RAPIDS, Mich. (WOOD) — A new report from the Michigan Association of Realtors shows it’s a great time to buy or sell a home in West Michigan. The numbers show the real estate market in Grand Rapids has been improving since the housing collapse in 2008. It shows a consistent decline in the length of time it takes to sell a home and a gradual improvement in the price of homes.

“It’s unique. It’s a great time for buyers to buy. It’s a phenomenal time for sellers to list and sell,” said Sun Title Agency CEO Tom Cronkright.  Cronkright said it’s a three-tiered deal for 2015. Mortgage rates are at a historic low, but the interest rate could increase next year due to policy changes. Historically low inventory rate. Existing homes are on the market for a shorter period of time. New construction is up 20 percent in the greater Grand Rapids area.
WATCH THE VIDEO: Watch the entire interview with Cronkright by clicking on the video player here: http://woodtv.com/2014/12/18/realtor-report-good-time-to-buy-sell-home/