As median home prices seem parked below $10,000 in Detroit, some buyers say the time is right to claim a piece of the city.
Those buyers include a couple who relocated from Pennsylvania last year to buy a three-bedroom brick house on Detroit's west side for less than $60,000 that needed no work and a California couple who bought a fixer-upper in Indian Village last year that has taught them a thing or two about contractors, patience and the beauty of the city.
Much of the inventory for sale in Detroit is priced under $75,000, according to a first-quarter report by Real Estate One in Southfield.
During the first quarter, there was a 4.7-month supply of houses priced under $75,000. A normal market is from three to six months of supply and a buyer's market is more than six months of supply.
