PMI Mortgage Insurance Company recently published a report called United States Market Risk Index. In it, the 50 largest metro areas (MSAs) across the country are given a US Market Risk Index score which predicts the probability that house prices will be lower in 2 years than they are at the time of the report. The worst markets, including Las Vegas and Phoenix, have a Risk rank of 1, or High. Their PMI US Market Risk indexes (percentage of probability that prices would be lower two years from now) were 91.9% and 84.0% respectively
Milwaukee/Waukesha/West Allis Metropolitain Statistical area (the only statistical area in Wisconsin tracked in this report) received a risk rank score of 5 = Minimal risk.
The PMI US Market Risk Index for this area was just 1.5%. In other words, according to this report, there is less than 2% chance for price declines in Milwaukee/Waukesha/West Allis MSA the next 2 years.
That’s the best news I have heard in a long time and hopefully the last piece of the puzzle for any buyer wondering if buying real estate in Wisconsin is a good idea. To move ahead, please contact First Weber Group, we sell real estate all over Wisconsin and can help.