June is National Homeownership Month. Celebrate with Detroit Future City!
National Homeownership Month was established in 2002. It reinforces the belief that owning a home is one of the steps towards achieving the American dream. This month also shares the joys of being a homeowner, which can encourage others to achieve the same thing.
Detroit Future City is celebrating the value that owning a home brings to families, communities, and neighborhoods across Detroit and the region. From those buying their first homes to those striving to maintain and improve their homes, Detroit Future City is supporting Detroiters in their homeownership goals.
Detroit Future City’s (DFC) work is built around two broad goals – growing Detroit’s middle class and improving the quality of life in Detroit neighborhoods. Housing markets have long been an important indicator of the economic health of a city, and understanding the housing market shift could be a powerful way to ensure more sustainable and resilient housing communities.
“Home Sales in Detroit” and “Black Homebuyer Demand” reports examine the housing market in Detroit and the region, and provide data to help strengthen the city’s homebuying market, a primary indicator of economic health and factor in Detroiters’ opportunity to build generational wealth.
“Home Sales in Detroit” identifies and uses comprehensive home sales data to provide localized and recent data on the home sales market in Detroit, answering questions of where home sales occurred in the city, what type of sales occurred, and how neighborhood home sales transactions across the city have changed over the last decade. “Home Sales in Detroit” is a publication of DFC’s Center for Equity, Engagement and Research, produced in partnership with Data Driven Detroit.
“Black Homebuyer Demand” analyzes Black homebuyer mortgage applications in Metro Detroit to understand mortgage patterns and how demand has changed over the past 10 years, so that Detroit can continue to make investments in attracting and retaining Black homebuyers. “Black Homebuyer Demand” is a publication of DFC’s Center for Equity, Engagement and Research.
In honor of National Homeownership Month, DFC held an Equity Innovation Series event with a keynote address from Majora Carter, and a dynamic panel discussion, on Tuesday, June 13th from 1-2:30pm via Zoom! This virtual event introduced data from Detroit Future City to provide a better understanding of where there is market activity and where there is not, along with data that highlights challenges and opportunities for Detroit neighborhoods.
The Detroit Neighborhood Housing Compact, a collaborative forum of industry and community leaders working collectively to improve housing quality and affordability in Detroit neighborhoods, hosted a special in-person meeting at TechTown on Tuesday, June 20th from 10:30am-1pm.
In partnership with Detroit Future City, National Faith Homebuyers, and Southwest Solutions, Project REACh Detroit held a homebuyer’s fair on Saturday, June 17th from 10am-6pm at Huntington Place! This event was perfect for first-time and prospective homebuyers looking to purchase in metro-Detroit. This event’s mission was to educate homebuyers on the home buying process to help individuals and families build wealth. Guests left equipped with the necessary tools and resources.