According to CoreLogic, home prices nationally are expected to rise 5.7% over the next year. Wisconsin home prices are predicted to rise 4.5%… nice and steady. Additionally, the five-year forecast for Wisconsin shows no sign of slowing down.
This is great news for both home sellers and home buyers.
Increasing prices are always good and we in Wisconsin are fortunate to be in the steady range. Wisconsin’s real estate market has never been as volatile as those on the coasts. Home sellers and home buyers can feel confident in their investment in real estate with the positive price growth expected over the next 5 years.
The Corelogic report also looked at market condition indicators for major metropolitan areas. 110 of them are considered “overvalued” and 17 of those overvalued markets are in Texas. In Wisconsin on the other hand, the report shows that currently most markets in Wisconsin are either normal or “undervalued” and it is predicted to stay that way until 2021.
Sellers – is it time to get an updated market analysis of your home? Perhaps you had one done several years ago and the value was not what you were hoping for. Contact your agent for an update.
Buyers – Interest rates are still very low and home values are rising. Better to buy now rather than later. It is possible rates will be rising, too.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin, Southwest Wisconsin, Western 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
Contact an agent today