Homebuyers may get more leverage this year
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Metro Detroit's housing market may regain a bit more of an even balance between buyers and sellers this year.
Why it matters: Expect a 2026 housing market that's still unaffordable for many buyers, but also with some momentum toward better inventory and mortgage rates.
What they're saying: National narratives about homebuying and selling are reflecting optimism, which would be welcome after a "quiet" last couple years, Jeanette Schneider, president of Re/Max of Southeastern Michigan, tells Axios.
- "I would anticipate a buyer would have more choices" this year, Schneider says.
- She expects more homes on the market as some homeowners who have been holding onto their assets, including the baby boomer generation, decide to sell.
Between the lines: With more choices, buyers could regain some leverage — potentially allowing them to use the results of home inspections to seek repairs or concessions.
- "We know a few years ago that wasn't happening," Schneider says. "We're starting to see buyers have that muscle again."
Yes, but: Schneider still expects supply constraints, even if more homes come on the market.
- "But I do think the market is getting closer to kind of resetting, closer to a balanced market than we've had in a long time," she adds.
Another local expert, Scott Bohlen, tells Axios the potential opportunity in the market depends on interest rates — if they "settle down" into the low 6% range or even mid-5%, it'll jump-start activity.
- But the team leader with Brighton-based Preview Properties also expects the market to remain "fairly similar" to the last few years, with tight inventory and increasing home prices.
Zoom out: Nationally, expect mortgage rates to hover around 6.3% in 2026, according to Realtor.com chief economist Danielle Hale.
- Redfin also projects 30-year fixed rates will average 6.3%, dipping from 6.6% in 2025 while staying well above pandemic-era levels.
The bottom line: Bohlen says the market is generally "pretty good," but if you're a buyer, you'll wish there was more to choose from.
- If you're a seller with a reasonably priced and well-maintained home, you'll see enough interest.