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ยป VISIT US ONLINE @ DSNEWS.COM 85 85 MICHIGAN Michigan Communities Feel the Housing Crunch e Detroit News reported in October that high demand continues to drive up home prices in Michigan, even as inventory levels for starter and mid-size homes remain critically low. Bradley Jernigan, an Associate Broker for Century 21, told Detroit News, "e homes under $250,000 in our area, there is a lack of inventory. ose homes sell very quickly, especially if they are updated and they are not distressed properties." Detroit News reported that August single-family housing permits in the state were down by 1.8 percent year-over-year, with some areas of Southeast Michigan seeing a drop of nearly 10 percent. Detroit News stated that while the number of statewide approved construction permits were up 1.8 percent year-over-year (with a total of 11,481 approved permits), that number was a far cry from the YOY change seen in 2017, when housing permits were up 10.2 percent over 2016. e Home Builders Association of Michigan estimated that 25,000 homes would need to be built in Michigan in 2018 in order to "keep up with normal cycles of population growth, changing demographics, and aging housing in the state." e Home Builders Association of Michigan noted that the state hadn't seen that level of construction activity in nearly a decade, with 2018 on track to see a total of around 17,000 homes constructed for the year. Bob Filka, President of the Home Builders Association of Michigan, told Detroit News that the majority of new homes being built in Michigan were ranging between $300k and $500k.