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1. Policy Matters | Property Tax Discussions Begin in Lansing

2. Watch From The Mailbag | Seller Disclosure Q&A

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For more videos and transcripts, visit law.mirealtors.com.

3. Study: Short-term rentals have minimal effect on home prices; drive more than $787 million in economic impact shows study in four Michigan counties

A comprehensive study of four dynamic Michigan vacation markets shows that short-term rentals have a minimal effect on home prices. At the same time, short-term rentals drive more than $787 million in economic impact, a study released by Michigan Realtors® shows.

Michigan Realtors® asked Anderson Economic Group (AEG), to conduct an independent study of the overall impact of short-term rentals in Allegan, Berrien, Grand Traverse, and Leelanau counties. The counties were selected because their economies are driven by tourism spending due to their proximity to abundant natural beauty.

The findings countered a common misconception that short-term rentals are a significant driver in rising housing costs in the four Michigan counties. Higher concentrations of short-term rentals led to higher sale prices in only one of the four counties, according to the analysis. Additionally, the study found that only a portion of housing units, used as short-term rentals, could be repurposed to fill long term housing needs.

AEG found that short-term rentals contribute to local economies by providing a range of lodging and housing types for visitors, as an alternative to traditional hotels. In the four counties studied, short-term rental visitor spending was more than $592 million. Many of the visitors who rent a vacation rental also shop for food, eat at restaurants and visit attractions in these counties, pushing the overall economic impact to $787 million in 2024.

Other key findings include:

Table 1. Seasonal Homes and Short-Term Rentals as a Share of Total Housing Units, 2023

Short-term rentals brought about 1.2 million visitors who generated additional spending in these four counties in 2024.
Spending by visitors in short-term rentals supported 4,600 jobs and over $185 million in earnings in the four counties in 2024.
Less than 2.0% of the housing stock, used as short-term rentals, could be re-purposed to fill in the housing gap based on housing typology and availability.
Short-term rentals did not contribute to higher home prices in three of the four counties. Only in Allegan County did short-term rentals contribute to slightly higher prices (2.7%), a small fraction of a home’s overall value.
Local ordinances limiting short-term rentals are unlikely to noticeably depress or decelerate growth in home sale prices.

“This study is important because for the first time we can clearly see short-term rentals do not necessarily lead to greater price appreciation,” said Todd Waller, 2025 Chair of the Michigan Realtors® Public Policy Committee which looks at the intersection of government regulation and housing economics. “It is important to have fair and balanced short-term rental regulations that support a healthy housing market. Short-term rentals are an important part of the housing ecosystem for communities who rely on tourism.”

“In Allegan County, more than $178 million of overall economic impact driven by short-term rentals,” said Jon Broadbooks, CEO of the West Michigan Lakeshore Association ofRealtors®. “For policy makers, this is an astonishing number, particularly as much of the economic impact is concentrated in the warm-weather, high-tourism months. It shows that short-term rentals are a partner in steady economic progress in communities throughout Michigan.”

Luke Jeffries, CEO, Southwestern Michigan Association of Realtors® indicated that “housing demand is strong in many of these communities so more housing development of various types and price points are needed. Communities should consider modifying or expanding housing policies that encourage residential development.”

“The study helps answer some of the questions local communities have about short-term rentals impacts on the housing market,” said Alan Jeffries, CEO of the Aspire North Realtors®. “While Grand Traverse and Leelanau counties benefited from over 346 million economic impact driven by short-term rental visitors, short-term rentals did not contribute to higher home sale prices in these counties.”

“Vacation homes and short-term rentals are a driver for visitor-based economies in the four counties studied,” said Cristina Benton, director of market and industry analysis at AEG.

“Short-term rentals bring about 1.2 million visitors, who generate significant spending and economic impact in the four counties. Our study also analyzed the impact of short-term rentals on home prices and found that short-term rentals did not contribute to higher home prices in three of the four counties. Further, after accounting for housing typology and availability, less than 2.0% of the housing stock, used as short-term rentals, could be re-purposed to fill in the housing gap. These findings suggest that properly regulated short-term rentals can be a part of a healthy housing market.”

Read Full Report Here

4. Congratulations 2025 Michigan RPAC Award Winners!

Congratulations to all local associations that exceeded their RPAC Investment Goal last year!

• Aspire North

• Battle Creek Area Association

• Bay County Association

• Branch County Association

• Central Michigan Association

• Commercial Alliance

• East Central Association

• Eastern Upper Peninsula Board

• Greater Kalamazoo Association

• Greater Lansing Association

• Greater Regional Alliance

• Hillsdale County Board

• Jackson Area Association

• Lenawee County Association

• Livingston County Association

• Mason Oceana Manistee Board

• Midland Board

• Northeastern Michigan Board

• Saginaw Board

• Southeastern Border Association

• Southwestern Michigan Association

• St. Joseph County Association

• Upper Peninsula Association

• Water Wonderland Board

• West Central Association

• West Michigan Lakeshore Association

During the Achieve Conference, RPAC awards were also presented to local associations that significantly improved over their previous year RPAC Investment total, had the highest membership participation rates, and those that raised the greatest amount over their 2025 investment goal. Associations annually compete in this friendly competition among locals of a similar membership size for this recognition.

Congratulations again to these award winners!

MOST IMPROVED

• Lapeer & Upper Thumb Association

• Eastern Thumb Association

• Livingston County

• Greater Regional Alliance

GREATEST MEMBERSHIP PARTICIPATION

• St. Joseph County Association

• Saginaw Board

• Greater Lansing Association

• Greater Metropolitan Association

GREATEST OVER GOAL

• Central Michigan Association

• Jackson Area Association

• West Michigan Lakeshore Association

• Greater Regional Alliance

We closed 2025 with $1,095,477 invested in Michigan RPAC. We appreciate the 317 Major Investors for their incredible commitment. Participation was a strength once again with 33.32% of the statewide membership investing in RPAC and 26 locals exceeding their participation goal.

Take a moment to celebrate an incredible year for Michigan RPAC by visiting our annual Recognition website. There, you’ll find our Michigan NAR RPAC Hall of Fame members, photos of our 2025 Major Investors, and recognition of our Gold Circle, Silver Circle, and Century Circle investors — along with a complete list of members who invested in RPAC.

Michigan’s RPAC program continues to set the standard. Our success is driven by strong local leadership, dedicated association staff, an engaged RPAC Trustees Committee, and partnership with NAR — all working together in support of our shared advocacy priorities.

With the support of member leaders and the Michigan REALTORS® leadership team, we are excited to keep building momentum alongside local associations, brokerages, WCR networks, and affiliate members as we head into another important year for RPAC.

5. From The Mailbag | Question of The Week

Each month, we are taking the most recently asked questions from From The Mailbag and putting them in E-News.

QUESTION: I am the listing broker. My seller received an offer that stated that the seller had until 12:00 noon on Saturday to respond. On Friday, I received a text from the buyers’ agent stating that the buyers were withdrawing their offer. Can the buyers withdraw this offer before its stated expiration?

ANSWER: Yes. Generally, buyers can withdraw their offer at any time prior to its stated expiration (at which time it terminates automatically).

Watch more legal videos on the Michigan Realtors® YouTube Channel.

For more legal Q&A, visit law.mirealtors.com.

Upcoming Michigan Realtors® Events

Black History Month Spotlight: “Understanding the Past, Informing the Future”

Hosted by the Greater Regional Alliance of Realtors®

February 26, 2026
Grand Rapids African American Museum & Archives
Online registration for GRAR members here.

Non-GRAR members can register by contacting Steve Sochanek at 616.940.8225 or steve@grar.com.

Michigan Realtors® Presents: Commercial Jumpstart
March 18, 2026
Michigan Realtors® HQ
Lansing
Hybrid Event
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Michigan Realtors® Presents: Fair Housing
April 9, 2026
Michigan Realtors® HQ
Virtual Event
Registration opens soon…

Broker Summit 2026
April 21, 2026
The Lansing Center
Lansing
Registration opens soon…
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The Convention 2026
September 30-October 2, 2026
Grand Traverse Resort & Spa
Registration and Room Block opens in mid-June.