Are you curious about what’s going on in your local housing market? In my monthly video I cover national headlines, housing stats, duplex inventory in Milwaukee County, and what it means for buyers and sellers.

Here is the update for September 2022 in the Milwaukee 4 county area:

Sold Listings 1,600 homes, -19% to LY.
Active listings 1,000 homes, -24% to LY.
Compare this to the national active listings versus a year ago at +27%

Why is Milwaukee different from the national housing market?

New listings were -23% last month meaning we’re not replacing the inventory that’s selling. Also, the positive 5% spread between Sold Listings -19% and Active Listings -24% further decreases our Months of Supply of homes for sale, 1.8 months vs 1.9 months a year ago.

Now shifting to Interest rates, they are certainly impacting buyer demand nationally and locally sitting around 7% but homes are still going under contract in the first couple of weeks on average. To combat the rates, buyers and sellers are getting creative with strategies like the 2/1 Rate Buy Down.

With all of these supply and demand considerations it’s no surprise that homes are not only holding their value, but actually increased 10% to last year.

I'm curious, what are you seeing in your local market?