Based on projected metrics that drive housing production – jobs, prices appreciation, population growth and income growth, Milwaukee came in at #14 in the Builder Magazine/Hanley Wood Market Intellegence report on the healthiest real estate markets in the United States. Moody’s Economy.com projections were used in the creation of the report.
Median prices did not rise like crazy here during the real estate boom, thus they have not fallen as far as they have in other markets. Home prices are expected to rise 3.8% next year as real estate slowly recovers.
Building permits in the Milwaukee area have fallen from around 5,000 in 2005 to less than 900 in 2011. Total building permits are expected to double to almost 1800 in 2012.
Unemployment in Milwaukee is less than the national average and is a large factor in housing health. Major employers in the area include Johnson Controls, Northwestern Mutual and Harley Davidson.
It’s always nice to make a positive list! By the way, the top city on the healthy housing market list was Minneapolis -St. Paul-Bloomington. You can read the entire article here.
To learn more about Milwaukee real estate, please see our Metro Milwaukee category or explore firstweber.com and search for homes for sale in the Milwaukee area. Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog.