Real estate markets are down, but experts predict that housing in urban areas will experience a sales boost in the near future.
According to excerpts from the article:
Condominium units in East Lansing aren’t selling quickly, but experts say the market for urban housing is expected to grow.
The West Village project has sold 21 of its 46 units—the same number of units that had been sold in April. The units were placed on the market in early 2007, when construction began. Tim Dempsey, economic development administrator for East Lansing, said although the city is keeping an eye on the sales, it’s something he feels comfortable with.
“The overall slowdown in the housing market is impacting demand everywhere, so I don’t think it has anything to do with the condominium project or location,” he said. “It’s a symptom of a larger problem out there.”
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