For the first decade of the new century, home prices in the 4-county Metropolitan Milwaukee area increased 25%; averaging $181,288 in 2000 to $226,301 in 2010. In the 7-county Southeastern Wisconsin area, average sales price increased by 26%; going from $165,814 in 2000 to $208,391 in 2010.
Over the longer-term, we expect the Southeastern Wisconsin real estate market to gradually improve. The current market dynamics consisting of low mortgage rates, ample inventory of homes, and reduced prices will be a major incentive to home buyers currently sitting on the sidelines. Additionally, beginning in 2011 the demographic wave of Generation Y buyers hitting the market will provide an extra boost to the market for years to come
This week's key fact to understand about today’s market:
Other home-price measurements also are showing price stabilization.
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