May 2022 Housing Market Update

for the Greater Lake Geneva Wisconsin Area

The following is a breakdown of the housing market data from large to small, collected from reputable real estate sources, for the previous month of May 2022.


WRA-Logo-Outlines-1

STATEWIDE


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See full housing report

WRA’s May 2022 Housing Stats:

Rising Prices and Mortgage Rates Drive Affordability Down

June 20, 2022 | Copyright 1998 – 2022 Wisconsin REALTORS® Association. All rights reserved.

METRO MILWAUKEE AREA


MetroMLS May 2022 Market Report

June 15, 2022 | Dan Zielinski | ©2022 Metro Multiple Listing Service, Inc

COUNTYWIDE & LOCAL MUNICIPALITIES

Metro MLS Monthly Local Market Reports

Below are the May 2022 statistics for Kenosha, Racine and Walworth Counties, PLUS the Lake Geneva – Delavan – Williams Bay municipalities.

June 10, 2022 | Jean Patterson | ©2022 Metro Multiple Listing Service, Inc | Powered by RapidStats

Other Notable Market Updates:

Realtor.com®’s Market Trends Report

by Sabrina Speianu and Danielle Hale, June 2, 2022.


IN REVIEW

Buyers: Yes, interest rates are higher than they were this time last year, however: 1) let’s be honest they were unusually low last year; and 2) interest rates will go up again before the end of the year. Is it the right time to buy? In my opinion, yes – the sooner the better! That being said, increased interest rates should theoretically help with inflation and curb the rise of home prices. For more information, please feel free to reach out!

Your free, instant Home Valuation here: HomeValuationzByAnnie.com

Sellers: It is the season for home shopping and buyers are here in the Southeastern Wisconsin region, as per usual. Don’t miss this opportunity to include all these ready, willing and able buyers trying to get a home before interest rates go up again (as they’re scheduled to). Now is a great time to list your home! Contact me for your free home valuation.


HAPPY SUMMER!

Annie Zambito

Licensed Real Estate Agent
Compass WisconsinLake Geneva

262.248.4492 | annie.zambito@compass.com | www.COMPASS.com | Compass Profile


My May 2022


Sources:

Green, Troy, “Existing-Home Sales Fell 3.4% in May; Median Sales Price Surpasses $400,000 for the First Time,” National Association of Realtors®. June 21, 2022.

Rising Prices and Mortgage Rates Drive Affordability Down,” Wisconsin REALTORS® Association. June 20, 2022.

Patterson, Jean. “Local Market Reports,” Metro Multiple Listing Service, Inc®. June 10, 2022.

Zielinski, Dan. “Market Reports: May 2022,” FlexMLS® & MetroMLS®. June 15, 2022.

Hale, Danielle; Speaniu, Sabrina.May 2022 Monthly Housing Market Trends Report,” Realtor.com®. .June 2, 2022.


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