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MICHIGAN HOME SALES UP IN OCTOBER

 MICHIGAN HOME SALES UP IN OCTOBER
 LANSING, Mich., Dec. 2 /PRNewswire/ -- Sales of existing single-


family homes in the state continue to maintain a monthly pace slightly above 1990 sales levels. According to figures recently released by the Michigan Association of Realtors(R), home sales in October were up 1.5 percent when compared to October last year.
 "Mortgage interest rates, at their lowest level in years, are helping to make homeownership more affordable, especially to modest incomed first-time buyers," noted Al Rietberg, president of the 23,000- member association.
 "You can't ask for a better opportunity in the housing market. At today's rates, over the time of the mortgage, homeowners could save thousands and thousands of dollars in interest payments. Anyone thinking about buying a home or stepping up the housing ladder into a bigger or better home should not let this opportunity slip by. They should explore the options available and talk with their local Realtor to find out more about today's attractive home-buying market in Michigan," Rietberg said.
 Another plus in Michigan's housing market is the steady price of housing throughout the state. Average costs have not climbed out of reach, remaining below the six-digit prices experienced in other parts of the country. Today's average price is just 5 percent above last year's levels. The market has provided a good return on their investment for the seller, while still remaining within reach of the average home buyer.
 Affordable housing prices and the lowest interest rate in years are making now, more than ever, an attractive time to buy a home," Rietberg said. "These market factors, combined with the many strong, positive housing programs and options throughout the state, will keep housing sales in Michigan maintaining a healthy pace."
 MICHIGAN ASSOCIATION OF REALTORS RESIDENTIAL SALES DATA
 October 1991
 1990 1991
 Jan-Oct Jan-Oct Percent
 Board No. Sales No. Sales Change
 Alpena, Alcona, Presque Isle
 Board of Realtors 179 183 2.23
 Ann Arbor Area Board
 of Realtors 2,027 2,233 10.16
 Battle Creek Board of Realtors 1,146 995 -13.18
 Down River Board of Realtors(a) 2,784 2,289 -17.78
 Flint Board of Realtors(b) 2,446 3,286 34.34
 Grand Rapids Association
 of Realtors 6,526 6,405 -1.85
 Greater Lansing Board
 of Realtors 4,770 4,150 -13.00
 Holland Board of Realtors 1,043 1,002 -3.93
 Jackson Board of Realtors 1,438 1,073 -25.38
 Kalamazoo Board of Realtors 3,624 3,596 -0.77
 Livingston County Association
 of Realtors 1,191 1,256 5.46
 Macomb County Association
 of Realtors 12,001 12,294 2.44
 North Oakland County Board
 of Realtors 2,143 2,123 -0.93
 Rochester Board of Realtors 1,979 1,872 -5.41
 Saginaw Board of Realtors 1,283 1,324 3.20
 Shiawassee County
 Board of Realtors 236 207 -12.29
 South Oakland County Board
 of Realtors 3,436 3,360 -2.21
 Southwestern Michigan
 Association of Realtors 2,159 1,846 -14.50
 West Central Board of Realtors 134 146 8.96
 Western Wayne-Oakland County
 Board of Realtors 14,319 14,469 1.05
 TOTALS 64,864 64,109 -1.16
 1990 1991
 Jan-Oct Jan-Oct Percent
 Avg. Price Avg. Price Change
 Alpena, Alcona, Presque Isle
 Board of Realtors $47,557 $51,749 8.82
 Ann Arbor Area Board
 of Realtors $120,879 $130,455 7.92
 Battle Creek Board of Realtors $55,951 $58,359 4.30
 Down River Board of Realtors(a) $68,527 $67,721 -1.18
 Flint Board of Realtors(b) $63,284 $67,418 6.53
 Grand Rapids Association
 of Realtors $78,084 $80,667 3.31
 Greater Lansing Board
 of Realtors $72,344 $75,033 3.72
 Holland Board of Realtors $84,837 $89,636 5.66
 Jackson Board of Realtors $62,597 $64,267 2.67
 Kalamazoo Board of Realtors $71,069 $75,725 6.55
 Livingston County Association
 of Realtors $114,721 $114,836 0.10
 Macomb County Association
 of Realtors $82,819 $89,666 8.27
 North Oakland County Board
 of Realtors $90,773 $97,454 7.36
 Rochester Board of Realtors $128,925 $135,269 4.92
 Saginaw Board of Realtors $58,605 $62,440 6.54
 Shiawassee County Board
 of Realtors $49,134 $53,005 7.88
 South Oakland County Board
 of Realtors $83,141 $85,614 2.97
 Southwestern Michigan
 Association of Realtors $77,119 $76,856 -0.34
 West Central Board of Realtors $47,326 $48,164 1.77
 Western Wayne-Oakland County
 Board of Realtors $95,856 $100,772 5.13
 TOTALS $84,053 $88,748 5.59
 1990 1991
 October October Percent
 Sales Sales Change
 Alpena, Alcona, Presque Isle
 Board of Realtors 27 27 0.00
 Ann Arbor Area Board
 of Realtors 196 241 22.96
 Battle Creek Board of Realtors 111 109 -1.80
 Down River Board of Realtors(a) 305 168 -44.92
 Flint Board of Realtors(b) 338 397 17.46
 Grand Rapids Association
 of Realtors 585 624 6.67
 Greater Lansing Board
 of Realtors 505 424 -16.04
 Holland Board of Realtors 104 117 12.50
 Jackson Board of Realtors 165 104 -36.97
 Kalamazoo Board of Realtors 337 348 3.26
 Livingston County Association
 of Realtors 118 123 4.24
 Macomb County Association
 of Realtors 949 1,098 15.70
 North Oakland County Board
 of Realtors 242 241 -0.41
 Rochester Board of Realtors 196 192 -2.04
 Saginaw Board of Realtors 140 142 1.43
 Shiawassee County Board
 of Realtors 16 21 31.25
 South Oakland County Board
 of Realtors 387 342 -11.63
 Southwestern Michigan
 Association of Realtors 236 191 -19.07
 West Central Board of Realtors 19 16 -15.79
 Western Wayne-Oakland County
 Board of Realtors 1,249 1,389 11.21
 TOTALS 6,225 6,314 1.43
 (a) -- All sales may not be reflected due to computer conversion.
 (b) -- Figures reflect change in reporting method.
 -0- 12/2/91
 /CONTACT: Janis Haskell of Michigan Association of Realtors, 517-372-8890/ CO: Michigan Association of Realtors ST: Michigan IN: SU:


ML -- DE002 -- 8256 12/02/91 10:04 EST
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