The Metro-MLS (Multiple Listing Service) uploads Market Updates on, or shortly after, the 15th of the each month; this useful tool is used to gauge how our local market fares compared to last year. Here are the key graphics for Walworth, Kenosha & Racine Counties:
What do all these numbers indicate?
…Multiple opposing factors and trends are competing to define the direction of the real estate market. After the Federal Reserve lowered its benchmark interest rate on July 31, 30-year mortgage rates continued to decline, approaching all-time lows last seen in 2016. Yet most experts agree these reductions are unlikely to bring sufficient relief, at least in the short term, for first-time home buyers.
#FlexTip Market Reports: August 2019
On a hyper-local level, the numbers can get skewed, i.e. aren’t always reliable, but I did want to include the numbers provided for my hometown area, as well.
Overall, it remains a sellers’ market. We all knew that, but I do find these breakdowns to be useful. Let me know if you agree!
❤ always, Annie Z.
Sources include:
Annie Zambito Realtor® | Lake Geneva, WI 