Jackson, Mich. — Ron Ellison, owner and president at American Title Company, joined WKHM on his birthday last Friday to give us an update on the real estate market.

Ellison says it’s a strange market, but different than the recession in 2008. “I can see people are starting to adjust to rates around 6 per cent,” says Ellison, remembering back when rates were as high as 17%. He notes that there is a shortage of inventory, but still a lot of buyers out there willing to make offers on well-priced homes.

“Are we down from last year? Sure we are, everybody is,” says Ellison, noting that business is still better than projected three months ago. He also says that local lenders do much of the creative financing that big box lenders do, you just have to ask for it.

Ellison tells us more about the real estate market at the 2:20 mark below.