The decline in Detroit home auctions for sale in April improved house prices. The price median shot up by 50 percent to $9,000, compared to the April 2009 median of $6,000.
Detroit home auctions surged in February, largely driven by underwater mortgages. Foreclosures in Wayne County soared by 69 percent in February as 47 percent of all mortgages in the city became underwater in December.
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