Metro Milwaukee Special Announcement Home Sales Up

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Metro Milwaukee Special Announcement Home Sales Up 24.2% in November December 11, 2012

Greater Milwaukee Association of REALTORs Logo
Special Announcement
Home Sales Up 24.2% in November
December 11, 2012

Home Sales Up 24.2% in November
November sales of existing homes in the 4-county Metropolitan Milwaukee housing market were up 24.2% compared to November 2011. 1,202 homes sold vs. 968 in November 2011.

For the year, sales are up 25.7% compared to 2011 (14,937 vs. 11,881), and up 29.4% in contrast to 2010 (11,539), as buyers take advantage of historically low interest rates and low prices, although availability is limited.

At the end of the 3rd quarter, the GMAR predicted that year-end sales would top 15,000 units. With the strong fall market 15,000 units is all but assured, and 16,000 is very possible. The last time the Milwaukee market sold more than 16,000 units in a year was 2007, the beginning of the real estate recession.

GMAR brokers are excited to finish the year on a strong note, and hopes are high that the federal government will avert any dramatic shock to the economy or financial markets by avoiding the “fiscal cliff.” Lenders are still very shy about making mortgage loans, even to home buyers with good credit; and any shock to the credit markets will lengthen an already long housing recovery.

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Lisa Bear (RE/MAX REALTY CENTER) Waukesha,MilwWI Real Estate 2628935555

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