A lot of people expect the market to crash and on the surface it looks like we are down compared to last year, but when you look closer it is actually quite the opposite. Overall volume is down almost 10%, but we have seen more inventory in the last 4 weeks. Demand is increasing simultaneous supported by rates in the sub 3% range and increasing confidence. Buyer demand keeps pushing up prices!
I have never worked in a market that was so competitive! Buyers and Sellers are responding very differently to the pandemic and this is creating an interesting dynamic. If you have ever wondered how much over asking people are really paying, you will like the data.
Here is a link to the video on YouTube: Milwaukee Market Update July 2020.