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Home sales in the Metropolitan Milwaukee market rose solidly in January by 7.1%, with 908 sales. While not in the one thousand sales range the market saw from 2018 to 2022, nine hundred sales, in January, is a great way to start the year.
Another point of optimism is the number of new listings we saw in January. Listings were up 10.9% compared to a year earlier.
We have to temper our enthusiasm, however, because sales and listings aren’t up enough to meet demand. 2023 and 2024 were miserable years, so 2025 has almost nowhere to go but up.
The market seems to be adapting to the increase in interest rates we saw two and a half years ago, resulting in fewer homeowners listing their homes. When rates went up in 2022 sellers pulled back for fear of paying higher interest rates on a new home. That resulted in fewer homes for buyers to choose from and a lot of frustration.
Listings have increased in eight of the last thirteen months, but – again – that is coming off the worst period of listings the market has seen this century. So, we really have to wait and see what the next several months bring.
In addition to homeowners not listing their homes, new construction has been a drag on the supply of housing.
To read the full report and graphics, click here.
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