Monday, July 13, 2009

The Business Journal of Milwaukee: Home price declines slowing in Milwaukee area

According to First American CoreLogic, housing prices in Metro Milwaukee has decreased 9.1 percent in April 2009 compared with the same month a year ago.

Although this sounds discouraging, Metro Milwaukee is more than one percent better than the national housing price drop of 10.2 percent for the same period.

The good news is that the decrease in housing prices has slowed which seems to indicate that we have hit bottom. From here, many professionals in the real estate industry are hopeful that the market will begin to show signs of improvement. However, it is important to note that it took us a few years to get through the housing correction and it may take a few years to get back on track.

How do we compare to the rest of the United States?

According to First American CoreLogic, “Among the 50 states, Wisconsin ranked 20th with a housing price drop of 7.2 percent for April 2009 compared with last year at the same time.”

Illinois and Minnesota were the only Midwest states with a higher housing price decline higher than Wisconsin.


My Thoughts

The findings of First American CoreLogic support the fact that the Midwest continues to remain very conservative as far as our housing prices are concerned. Unlike the coastal regions, we won’t experience the huge swings in housing values. The bad news is that you won’t make millions in the real estate market here in the Midwest. The good news is that you won’t lose millions either.

Real estate remains a very safe, long-term investment. If you take great care in maintaining your biggest investment, then the expectation is that your home will appreciate over time.


The writers for The Business Journal of Milwaukee, provides more details regarding the current state of the real estate market. Click here to read more about the housing market>>>


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posted by David Ray @ 3:38 PM

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