May 2015
\nMultiple Listing Service, Inc.<\/p>\n
The U.S. economy has been pretty even so far this year. Usually when new
\nfigures are released, they paint a pretty picture worthy of putting above the
\nfireplace in that purchased new home. Recently, some numbers for the first
\nquarter were adjusted to show a slight contraction in the economy. The initial
\nresponse from Wall Street was unfavorable, but the correction itself is truly a
\nmere blip. Nobody is predicting that the market will take a sudden turn. <\/p>\n
New Listings in the Milwaukee region decreased 1.3 percent to 2,773. Pending
\nSales were down 29.8 percent to 1,229. Inventory levels rose 2.0 percent to
\n8,258 units. <\/p>\n
Prices continued to gain traction. The Median Sales Price increased 11.2
\npercent to $195,000. Days on Market was down 17.0 percent to 70 days.
\nAbsorption rates were even with last year as Months Supply of Inventory
\nremained flat at 6.1 months. <\/p>\n
One interesting effect of a weaker-than-expected economy is that the Federal
\nReserve does not seem ready to raise short-term interest rates during summer,
\nas some had suggested might happen. New projections indicate that rates will
\nremain the same until September at the earliest. The dominant storylines in
\nhousing are decidedly not negative these days. Instead, you’re more likely to
\nsee top sales and luxury living highlighted than the woes of foreclosures and
\nshort sale.<\/p>\n
All data for the market reports comes from the Multiple Listing Service, Inc. and is powered by 10K Research and Marketing. You can follow this link: Metro MLS Market Updates or visit www.metromls.com.<\/p>\n
Metro MLS Market Updates<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" May 2015 Multiple Listing Service, Inc. The U.S. economy has been pretty even so far this year. Usually when new figures are released, they paint a pretty picture worthy of putting above the fireplace in that purchased new home. Recently, … Continue reading