State of the Market – May 2018

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Horning, Joe 2 head shot smallerA letter from Joseph A. Horning, President of Shorewest, REALTORS®

Entering the second quarter of the year, we are in the midst of a very active, low inventory spring market. According to the National Association of REALTORS® Home Survey in March, 74% of people believe that now is a good time to sell, and 42% believe that strongly, while 68% of people believe that now is a good time to buy and 38% believe that strongly. Low inventory combined with low interest rates keeps us in the strong seller’s market that we’ve been in since September 2016.

As we head into the spring season, we can expect that inventory levels will start increasing, however slowly, as we are still well below where we were in 2017. Other economic factors are keeping housing demand where it is. The economy is healthy and statewide unemployment levels are sitting low, mortgage rates have increased little by little but they are historically still some of the lowest rates we’ve seen in years. These factors combined create a healthy interest in buying homes, but a more difficult time for buyers to close a deal.

While homes are selling quickly, it is key to have a real estate professional helping you every step of the way. When selling, a Shorewest, REALTOR® will negotiate pricing, orchestrate inspections, explain contingencies and take care of many other details. When you sell a home with Shorewest, you know that people will find your property within Shorewest’s expansive network of agents that brings buyers and properties together easily. Our exceptional sales associates list and sell more homes than any other company in Wisconsin.

When it is time to make a move – locally or globally – we appreciate the opportunity to serve as your trusted advisor.

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Categories: Quarterly Newsletter, Shorewest News

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