32 - Metro Milwaukee Market Update November, 2022
The market has changed in metro Milwaukee for sure, and you need to know what to expect if you are a home seller or buyer. Industry expert John G. Gscheidmeier talks market updates and provides the insight you need to make an informed real estate decision.
Industry and real estate expert John G. Gscheidmeier says it best in this episode - "We are in a period categorized as follows: a deceleration of price appreciation".
The market is still strong - despite what national and local new outlets will tell you. Are interest rates higher? There is no doubt - they've doubled in the last year. The federal government isn't doing us any favors rate-wise but they are attempting to slow real estate sales for sure. It has taken it's toll on first-time home buyers and even experienced buyers. Sellers are no longer receiving multiple offers (sometimes upwards of 10 or more).
What we do know it that it is still a great time to buy or sell. John walks you through what the market is telling us, and how the market will likely continue in this pattern for some time.
The market is still strong - despite what national and local new outlets will tell you. Are interest rates higher? There is no doubt - they've doubled in the last year. The federal government isn't doing us any favors rate-wise but they are attempting to slow real estate sales for sure. It has taken it's toll on first-time home buyers and even experienced buyers. Sellers are no longer receiving multiple offers (sometimes upwards of 10 or more).
What we do know it that it is still a great time to buy or sell. John walks you through what the market is telling us, and how the market will likely continue in this pattern for some time.