Today in Real Estate is a page dedicated to giving the public updates on current Real Estate issues and market conditions. These reports are generated from the Metro MLS, who covers all of south eastern Wisconsin. For some reason they seem to concentrate on Milwaukee in their reports. Which is normally the largest market in Wisconsin, but lately has not represented the what is happening today in Real Estate in other parts of Wisconsin. I guess when you get stuck in a habit, it is hard to get out of it. I wish they had more news about what is happening today in Real Estate in other parts of the state like Sheboygan, Plymouth, Fond du Lac, Green Bay, and West Bend. But we have to take what we are given with a grain of salt. I will make mention of what I see in local markets, and of course, when it comes time for you to buy or sell any Real Estate, I will generate a personal report for you in your local area. That is the only way to do business.

Thanks to the Metro MLS for their reports. I am paying for these, so I may as well share them. I will also post reports from the WRA, Wisconsin Realors© Association, and other local offices when they are available.

If you have any questions, feel free to give me a call, or send me a message. If you want to find out what your house and property is worth in the market today, you can call, or send a message on my form page.

 

 

MARKET REPORTS: JUNE 2018

Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself into several quick sales above asking price. While the strength of the U.S. economy has helped purchase offers pile up, the Fed recently increased the federal funds rate by 0.25 percent, marking the second rate hike this year and seventh since late 2015. Although the 30- year mortgage rate did not increase, buyers often react by locking in at the current rate ahead of assumed higher rates later. When this happens, accelerated price increases are possible, causing further strain on affordability.
New Listings in the Milwaukee region decreased 11.3 percent to 2,405. Pending Sales were down 59.3 percent to 801. Inventory levels fell 0.9 percent to 5,015 units. 

Prices continued to gain traction. The Median Sales Price increased 6.9 percent to $234,975. Days on Market was down 17.1 percent to 34 days. Buyers felt empowered as Months Supply of Inventory was up 9.7 percent to 3.4 months.

Inventory may be persistently lower in year-over-year comparisons, and home prices are still more likely to rise than not, but sales and new listings may finish the summer on the upswing. The housing supply outlook in several markets is beginning to show an increase in new construction and a move by builders away from overstocked rental units to new developments for sale. These are encouraging signs in an already healthy marketplace.
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.

MARKET REPORTS: APRIL 2018

Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months.
New Listings in the Milwaukee region decreased 9.5 percent to 2,269. Pending Sales were down 59.4 percent to 834. Inventory levels fell 0.8 percent to 4,521 units. 

Prices were fairly stable. The Median Sales Price increased 1.0 percent to $210,000. Days on Market was down 17.5 percent to 47 days. Buyers felt empowered as Months Supply of Inventory was up 7.1 percent to 3.0 months.

This winter and spring exhibited unseasonal weather patterns in much of the country. As the seasons change to something more palatable, wages and consumer spending are both up, on average, which should translate positively for the housing market. Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower. If that wasn’t enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again in fashion.
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.
Please contact your respective MLS with any questions. You may also follow our updates at  http://twitter.com/metromls.  Metro MLS members can call the Help Desk at 414-778-5450 or email  support@metromls.com
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link:  Metro MLS Market Updates  or visit www.metromls.com.
The views and opinions expressed in this article are those of the authors and should reflect only on trends that affect the economics of real estate.