Wednesday, February 11, 2009

Milwaukee Journal Sentinel: Milwaukee home prices buck trend

According to Radar Logic Inc., a New York-based real estate data company, Milwaukee did something that no other major metropolitan area was able to do: prices on a square-foot-basis increased from November 2007 to November 2008. Out of 25 metropolitan areas across the country, Milwaukee also ranked first in price per square foot in October 2008.

Every other metropolitan area in the top 25 lost value on a price-per-square-foot-basis.

While values may have increased from November 2007, closed transactions decreased by 28.4% over the same period.

Care to know which metropolitan area lost the most value? I will give you a hint: It’s not located in the Midwest. For years I have been telling sellers and buyers that you won’t make a ton nor lose a ton in real estate in the Midwest. We have been fortunate enough to be sheltered from huge swings in property values. Therefore, if you believe what you read in the newspaper that the housing market has tanked, please realize that we are performing much better here than in any other major metropolitan area.

Click here to read Radar Logic’s “RPX Monthly Housing Market Report”>>>

Don Walker, writer for the Milwaukee Journal Sentinel, summarizes Radar Logic’s report and identifies those metropolitan areas that experienced the greatest decline in housing values. Click here to find out how we compared to other metropolitan areas>>>


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posted by David Ray @ 8:44 PM

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