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Report: Michigan housing market still lagging post-recession

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LANSING (WKZO) -- By the numbers, Michigan's housing market isn't recovering as fast overall from the recession as some had hoped.

According to three-year estimates from the American Community Survey, the median value of a home in Michigan is 118-thousand dollars, with is 46th in the country.  The median price has fallen from 145-thousand from 2007-09.

The state has been hurt by a sharp median price drop in Detroit, where they're off 41-percent from 2007-2009 to 2010-2012 and the city has the lowest median prices among the 50 largest U.S. cities.

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