Wisconsin Home Sales - Reflections on 2000
Date: January 4, 2001
For More Information Contact: John
Englehardt, Research Consultant
Madison - Although final numbers will not be available for another
month, the year 2000 was another good year for sales of existing
single-family homes in Wisconsin according to the Wisconsin
Realtors® Association.
“While
we don’t expect to set any statewide records for 2000, when
you look back it was really quite a remarkable year for real
estate,” says WRA President Joan Seramur.
“Presidential election years typically hinder the real
estate market …not only did we have to endure an elongated
presidential election but we also had to contend with a slumping
stock market, and real estate specific factors such as rising
interest rates and fewer homes for sale. And yet sales through
three quarters of the year were very good in most areas of the
state.”
“Several
factors could make for an interesting start to 2001,” says
William Malkasian, WRA executive vice president.
“As we enter the new year, mortgage rates are down from
the summer highs and appear to be headed even lower.
Lower mortgage rates tend to help our market, especially
with affordability.”
Malkasian
adds, “We are concerned that consumer confidence was waning
during the 4th quarter but with our strong state
economy and low unemployment an upward transition is not out of
the question in the near term. Much will depend on how the
change in Governor and, on a larger scale –President, will
factor into the mix.”
“A
big concern continues to be the lack of homes for sale in many
areas around the state,” says Seramur.
“This proved to be frustrating for most of 2000 and the
winter months tend to be slow for new listings especially when
you consider the amount of snow that December brought.
Plenty of buyers remain out there but they too tend to
find going difficult.”
“However,” adds Seramur, “for those willing to
brave the elements, the next few months may present excellent
opportunities for both buyer and sellers.”
The Wisconsin Realtors®
Association is one of the largest trade associations in the
state, representing over 12,000 real estate brokers, sales
people and affiliates statewide.
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