Milwaukee WI Real Estate Update

Milwaukee WI Real Estate update. National July housing data released reveals that improving, but continued lack of newly listed homes on the market coupled with pent-up buyer demand is driving inventory to all time lows and is also steadily pushing prices higher. The total number of homes available for sale continue to be constrained in July. Hi, I’m Rich Barnes, owner, broker of Realty Experts in West Allis, Wisconsin, 53214. National inventory decrease 32.6% year over year, a faster rate of decline compared to 27.4% year over year drop in June. The amount of loss was 440,000 listings as compared to July of last year. The volume of newly listed properties in July decreased by 13.4% since last year, while still well below last year’s levels, the rate of decline in newly listed properties has improved from the peak decline of 44.1% in April. Milwaukee housing data shows, the absorption rate was up 1% from 2.01 to 2.03 months. Remember the absorption rate is the number of months of inventory we have, if no new listings hit the market. Sold listings were down 2.2% from this time last year from 229 to 224. Pending listings are up 1.5% from this time last year 272 to 276, while the real estate market is working hard to make a comeback, people are still having a fear of listing their home, experts believe due to the COVID-19 situation. In Milwaukee, new listings on the market are down 25.9% with actual active listings down 38.1% as compared to this time last year, according to Realtor.com. So if you are considering enlisting your home, but you’re worried about the current situation, be sure that we are a full digital brokerage and we can do almost everything to list your home digitally, including show ins. Please feel free to reach out. I’m here to help. Thanks, and you have a great day.

Milwaukee August 2020 Market Update!
Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *