Metro Detroit pulse
Four weeks ending Oct 18, 2026, compared with the same period last year.
| Wayne County area | Oakland, Macomb, Livingston area | |
|---|---|---|
| Median sale price | $219K (+6.9%) | $329K (+1.2%) |
| Pending sales vs. last year | -12.9% | -15.3% |
| Pending sales vs. prior week | -3.6% | -3.7% |
| Active listings vs. last year | -0.1% | +12.5% |
| Listings with a price drop | 21.6% (+1.2 pts) | 24.4% (+2.0 pts) |
| Median days on market | 28 (+1) | 28 (+1) |
Prices are holding, but fewer homes are going pending than a year ago. In Oakland, Macomb and Livingston, inventory is up and about 1 in 4 active listings has taken a price drop. For listings: price it right on day one. For buyers: there is room to negotiate on homes that have sat.
Rate trend
The Mortgage News Daily 30-year fixed index was little changed this week and sits slightly below its early October levels. It is an industry average, not an offer of credit; rates vary by borrower.
Pre-approval that holds up
With more homes to choose from, sellers compare offer strength, not only price. Here's how to tell a solid pre-approval from a weak one.
What makes it solid:
- Credit pulled and reviewed, not just a conversation.
- Income documented: pay stubs, W-2s or tax returns, plus business returns for self-employed buyers.
- Assets documented: bank statements showing funds to close.
- Run through automated underwriting (AUS), such as Fannie Mae's Desktop Underwriter or Freddie Mac's Loan Product Advisor.
- The strongest: a fully underwritten pre-approval, where an underwriter has reviewed the buyer's file before the offer.
Red flags:
- A credit-only prequal, or a letter with no documents reviewed.
- A letter older than 30 days, or not matched to the offer price.
- No loan officer name, NMLS number, or phone number on the letter.
- A lender you can't reach when you call to verify.
- A buyer planning new debt or a job change before closing.
What to ask the buyer's lender before you write:
- Was credit pulled, and when?
- Which income and asset documents did you review?
- Was AUS run, and has an underwriter reviewed the file?
- Is anything about the buyer still open, or are the remaining items property related?
- Can you update the letter to match this offer price?
Questions? Text me at 734.540.2332.
Gregory Goddard | Goddard Group | CrossCountry Mortgage | NMLS #1478824 | 734.540.2332 | [email protected]. Branch NMLS2465835. CrossCountry Mortgage, LLC NMLS3029. Equal Housing Opportunity.
For real estate professional use. Not a commitment to lend. All loans subject to credit approval. nmlsconsumeraccess.org.
Sources: Redfin, a national real estate brokerage, weekly Housing Market Tracker, four weeks ending Oct 18, 2026 (published Oct 20, 2026), subject to revision. Wayne County area: Detroit metro division. Oakland, Macomb, Livingston area: Warren metro division (Lapeer, Livingston, Macomb, Oakland, St. Clair). Rate trend: Mortgage News Daily 30-year fixed index, Jul 23 to Oct 22, 2026. Pre-approval requirements vary by lender and loan program.