Sales are still down in the Milwaukee Surrounding 4 counties, according to the report, although Milwaukee County showed an increase compared to June, 2013. Optimistic Sellers saw increased listings in June compared to June 2013. The report attributes this to a lack of inventory for buyers to choose from, but I would attribute it to lack of viable buyers due to more stringent Lending rules and the slow economic recovery. Foreclosures still seem to be selling, but the higher priced housing seems sluggish except for the cream puff listings. Time will tell if the increase of listings actually sell, or linger on the market. Overall, I have seen increases in sales prices, and shorter listing times, again depending on the condition of the homes. Bottom line, I see homes are starting to move, but Buyers have the option to be picky, due to the inventory levels.
Read the report:
GMAR June 2014 Housing Report