Radar Logic, a company which reports monthly on housing markets in 25 metropolitan areas has just released data for December 2007. It is big news for metro Milwaukee. Of the 25 markets Radar Logic studies all across the country, 4 markets showed an increase in price per square foot over last year, one market was neutral with no change and 20 markets were down.
Milwaukee, Wisconsin is not only one of the markets that showed an increase but number 1 in appreciation in price per square foot over last year. Number 1. That’s fantastic! In addition, Milwaukee Wisconsin has also held the top ranking three out of the last four months and has shown neutral or better growth since January 2006.
Below are the stats for December 2007. Please note Metro Milwaukee is the only Wisconsin market included in the study. This does not mean other Wisconsin markets did not perform as well or better than, just that the data is not included in the report.
Source: 28 day RPX index value for each MSA as of 12/31/07, Radar Logic
|Rank||Previous Rank||Metropolitan Statistical Area||Price per square foot||% Change|
|4||2||New York, NY||$286.26||1.4%|
|10||7||San Jose, CA||$437.18||-5.2|
|21||21||Los Angeles, CA||$331.46||-14.7|
|22||23||San Diego, CA||$269.96||-19%|
|23||14||St Louis, MO||$88.71||-20.3%|
|24||24||Las Vegas, NV||$143.29||-21%|
It is also interesting to look at the affordability in these major metro areas via the Price per Square foot cost. There are only 6 metro areas with more affordable housing than Milwaukee per the price per sqaure foot numbers in this report.
Things look pretty good for Wisconsin, the snow is starting to melt, and pent-up home buyer demand may explode this spring. Act now while the prices and rates are lower.
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