Real estate agents nationwide expect home prices to rise an average of 3.5% during the next 12 months according to the August 2015 Realtors Confidence Index survey done by NAR in which 50,000 agents were surveyed.Percentages varied by region, with Wisconsin coming in at 3-4% expected price growth.Much of the Northeast part of the US is expecting less, around 2%. Florida came in at 5-6%.
Heads up, potential buyers
While this news is very good for current homeowners, it does serve as a heads up for anyone waiting to buy a home. This time next year, if expectations are reached, your dream home will be 3-4% more in terms of price. And, who knows what the interest rate will be – those can’t get much lower than they are now and they play a HUGE part in the overall cost of owning a home. See this post that shows what different interest rates have made a $250,000 mortgage look like over the years.
You can see what is available all across Wisconsin at firstweber.com. If you are thinking about buying, you might also want to think about sitting down with a First Weber real estate agent and a loan officer in Wisconsin to get some of the ground work started.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin, Southwest Wisconsin, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com