1. Inventory is on the Rise Nationally
2. Home Values are Still Increasing, But Not as Fast
Nationally, Zillow measured the increase in typical home value in April 2022 as being more than 20% higher than it was in April 2021.
Those sorts of jumps were accentuated in Traverse City and beyond through 2021 and the start of 2022, but it appears these price jumps might be slowing.
3. Annual Rent Growth Slowed Nationally (But not in Traverse City)
Across the country, rent growth in the month of April inched up by less than 1% since February, a first in over a year. That trend, however, has not been seen in Traverse City.