The trend of strong demand and weak supply continued in May, with the median home price increasing 8 percent over the last year to $188,000, according to the Wisconsin REALTORS Association.
May also marks the third month in a row that home sales failed to exceed 2017 levels. Wisconsin sales were 8,020, compared to 8,440 in May 2017.
While home sales remain generally the same as last year, mortgage rates are seeing an upswing. They increased from 4.01 in May 2017 to 4.59 in May 2018. Eventually, the shift will control inflation and benefit the overall economy.
This competitive market continues to require interested homebuyers to act fast. Because of that, it's more important than ever that you have the resources you need at your fingertips. It's part of the reason Restaino & Associates recently redesigned our website with you in mind.
The redesign offers a more user-friendly website, interactive map to view available homes and to find open houses. It provides access to the most up-to-date information including our newly added, "What's My Home Worth." We invite you to take a look at www.restainohomes.com.
It's a good time to remind all of you that Restaino & Associates' Realtors are seasoned experts who really know the local market and are skilled negotiators ready to assist.