Last year about this time, local Detroit experts reported that home price deflation was the worst in the nation -- down 10.5 percent from 2005. At that point, NAR's President sent out a hopeful word that the market was bottoming out -- and was a result of steep job losses in city.
And it appears that she was right. Last year's median home price was $154,100 -- meaning that the $154,600 median seen at this time may not be setting record appreciation, but the downward dive appears to have ended.
Forbes Magazine says that Metro Detroit ranks third in the nation's most affordable housing markets.
So what else does Motor City offer? Local experts report that "the area has some of the nation's finest hotels, casinos, performance centers, [and] stadiums ... . "
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