Robust 2013 for Wisconsin Housing

Statewide, year long sales were up almost 11% over last year and median prices increased 7.2% over last year.  ”Strong sales dominated 2013, which is remarkable given that this is compared to 2012, which was also a very good year for the housing market”, said Steve Lane, chairman of the WRA Board of Directors. Lane noted that housing sales were strong despite rising interest rates and prices. “Mortgage rates have increased a full percentage point since January, and median prices have grown consistently throughout the year,” Lane said.  While they have risen lately, rates remain affordable historically.

Wisconsin Home Affordability index is currently at 227. This is a big decrease in affordability since an index of 274 seen last December.
HOWEVER, to put things into perspective, the National Home Affordability index is 170.

Regionally, here the real estate sales recap comparing 2013 to 2012: (Source WRA)

Southeast Wisconsin/Metro Milwaukee real estate statistics

25,274 homes sold in Southeast Wisconsin in 2013,  up 11.1% over last year. Median sales price up 6.4%

South Central Wisconsin/Madison area real estate statistics

14,424 homes sold in South Central Wisconsin in 2013,  up 15.4% over last year. Median sales price up 8.7%

Northeast Wisconsin/Fond du Lac/Appleton area real estate statistics

12,071 homes sold in Northeast Wisconsin in 2013,  up 7.4% over last year. Median sales price up 4.2%

Central Wisconsin/Wausau  area real estate statistics

4,429 homes sold in Central Wisconsin in 2013,  up 9.2% over last year. Median sales price up 7.6%

Northwoods Wisconsin real estate statistics

6,249 homes sold in  Northwoods Wisconsin in 2013,  up 5.7% over last year. Median sales price up 1.7%
The See Team is the premiere real estate team in the greater Madison and Middleton Wisconsin area. We have over 60 years of combined experience in real estate, and we know the towns where you want to buy a new home or sell your home: Madison, Middleton, Verona, Sun Prairie, Waunakee, Fitchburg, Spring Green, Oregon, or any other place in South Central Wisconsin.

If you're relocating to the Madison - Middleton Wisconsin area, we'll tell you about our neighborhoods, schools and best places to live. We've lived here all our lives and raise our families here - we'll share with you all we know and make looking for your new home in Dane county a pleasure.

If you're looking for the perfect house, home, condo, town home or land for sale in the Madison / Middleton real estate area, we're your team. We also help clients locate commercial property to rent or own.

SEE the difference.

http://www.seemadisonrealty.com

Relocating to Madison - Middleton, Dane County:

http://www.seemadisonrealty.com/aboutmadison.html

Comments

Post a Comment

Popular posts from this blog

Jacci & Rachael See/The See Team Receives 2021 Best of Middleton Award

Jacci & Rachael See/The See Team Receives 2021 Best of Middleton Award MIDDLETON November 6, 2021 -- Jacci & Rachael See/The See Team See Madison Realty has been selected for the 2021 Best of Middleton Award in the Real Estate Agents category by the Middleton Award Program. Each year, the Middleton Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Middleton area a great place to live, work and play. Various sources of information were gathered and analyzed to choose the winners in each category. The 2021 Middleton Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Middleton Award Program and data provided by third parties. About Middleton Awa
Read more

7 Crucial Facts about FHA Loans

RIS Media,  by Marcie Geffner, March 3, 2014 An FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan. Because of that insurance, lenders can, and do, offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements. 1. Less-than-perfect credit is ok: The FHA doesn't mandate a minimum credit score. Instead, each borrower's creditworthiness is considered in context. Some leeway is allowed. Lenders can, however, overlay their own requirements on top of the FHA's guidelines. Some lenders might require a minimum credit score. 2. Minimum down payment is 3.5 percent: That is a fraction of the percentage typically required on most other loans. 3. Closing costs may be covered: The FHA allows home sell
Read more

Top Trends In Real Estate For 2014

RIS Media, Top Trends in Real Estate for 2014,  by Jeff Collins, January 11, 2014 Economists predict 2014 will see more buyers putting roofs over their heads, home prices are expected to stabilize, and homebuilding will be more frenetic. "The housing market has staged a spectacular recovery over the past year," Cal State Fullerton economists Anil Puri and Mira Farka wrote in their 2014 economic forecast. "More recent data, however, point to a softening of these trends." 1. More Inventory: You can expect to see more people putting their homes up for sale this year, as rising prices bring new equity to underwater homeowners. Other property owners also may take the opportunity to get their lives off hold and take advantage of higher home prices. "I'm hoping that, since interest rates are still low, it's a better opportunity not only to sell, but to rebuy," said homeowner Donald McCray. Another factor: New home construction is expected to incre
Read more