The present housing market in Lansing is down with high active listings and low sales volume. Home prices have increased 13.1% in the past month alone. With 22 active listings, inventory is 100% higher than seasonal norms. Homes are now taking an average of 61 days to sell, significantly longer than the 13 days typical for this market. Approximately 25.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Lansing market with the affordability index at 5.6. Based on current market indicators, home prices in Lansing are projected to decrease by approximately 31.8% over the next month.
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