Housing Market Trends

Posted on September 17, 2012. Filed under: Molly Carriveau |

Housing Market Trends

What is the trend of the Housing Market? That is a common question in the mortgage industry, but also to the average consumer.  Analysts following the economy are interested in home sales, new construction and home values.  These statistics have a large impact on the economy.

The below charts were taken from the Wisconsin Realtors Association.  The number of home sales in Northeast Wisconsin has been staying fairly steady since 2009.   Although, if the trend for 2012 continues, there will be a fairly sizable increase for this year.

Median home prices seem to have hit their peak in 2007.  Although the decreases have not been drastic, there have been only minimal changes, both positive and negative.  People are still selling homes, but the values and prices they are getting are less than they were in the past.  Many are selling at prices much lower than their purchase price from the early 2000’s.

With interest rates still hovering around record lows, and this being an election year, I don’t anticipate large changes in home sale trends.  It does appear the housing market is slowly getting better, but it will definitely take a while, if ever, to get back to the record numbers and values from the past.

Number of Home Sales (NE Wisconsin)

Year Q1 Q2 Q3 Q4 YTD
2007 2,370 3,704 3,281 2,350 11,705
2008 1,970 3,130 3,050 1,897 10,047
2009 1,407 2,670 3,003 2,471 9,551
2010 1,745 3,473 2,110 1,968 9,296
2011 1,636 2,677 2,765 2,250 9,328
2012 2,096 3,287 2,326 n/a 7,709

Number of Home Sales (BrownCounty)

Year Q1 Q2 Q3 Q4 YTD
2007 562 883 704 543 2,692
2008 440 739 743 421 2,343
2009 333 663 763 623 2,382
2010 442 892 496 410 2,240
2011 394 655 622 539 2,210
2012 502 851 555 n/a 1,908

 

Median Price of Homes (NE Wisconsin)

  Q1 Q2 Q3 Q4 YTD
2007 $128,000 $136,250 $134,900 $134,600 $134,000
2008 $120,900 $134,000 $130,000 $126,500 $129,900
2009 $118,000 $123,000 $125,000 $120,000 $122,000
2010 $120,000 $124,900 $128,300 $125,000 $125,000
2011 $110,000 $119,000 $122,500 $115,000 $118,000
2012 $112,000 $120,000 $125,000 n/a $119,900

 

Median Price of Homes (BrownCounty)

 

 

Q1 Q2 Q3 Q4 YTD
2007 $146,000 $151,500 $149,900 $149,900 $149,900
2008 $138,000 $150,000 $150,000 $145,900 $147,000
2009 $137,000 $142,000 $133,500 $129,900 $135,000
2010 $135,250 $137,825 $142,750 $137,500 $137,997
2011 $127,000 $138,000 $138,000 $140,000 $135,500
2012 $131,250 $133,500 $135,500 n/a $134,950
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