Despite all the
changes that
came about in
2016, the real
estate market
remained solid.
It was extremely
consistent, and
is likely to
become a
record-setting
year for
Wisconsin's
existing home
market.
As with 2015,
the housing
industry again
saw healthy
increases in
value.
Inventory, while
still very low
compared to the
number of people
looking to buy,
loosened up a
bit mid-year. In
June of 2016 the
number of
available homes
for sale rose to
9,942, up from
9,450 the
previous year.
By August of
2016, there were
nearly 1,000
additional homes
for sale over
2015 inventory
for that same
time period.
Still, buyers
outweighed
sellers, which
continued to
drive home
prices up.
Why so many
buyers? This is
thanks to many
factors,
including low
interest rates,
lower gas
prices, stronger
wage growth, and
greater numbers
of millennials
entering the
home buying
market.
Technology is
also making it
easier for these
buyers to shop
for homes from
virtually
anywhere.
What's in store for 2017? Stay tuned....
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