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Home Values in Wisconsin

Below, please find a chart depicting housing price gains during Q4 2014. Below that, I’ve listed annualized gains for 2014 as well as commentary on what all this means. Enjoy the good news for the home values in Wisconsin…and nationally!

Home Values By State

The appreciation figures shown are derived from the Federal Housing Finance Agency (FHFA) All Transactions Data and compiled by Estate of Mind, Inc. Appreciation will vary from year to year, can decline and, for any individual property, can be more or less than the averages illustrated here. Information is deemed accurate but not warranted.

 

Did you notice that all states experienced price growth last year? All indicators show that national home values are continuing to climb in 2015. Why is that good for you if you already own a home? Rising home equity may make it easier to:

  • Refinance or sell;
  • Access cash for home improvements, college tuition or many other important expenses; or
  • Eliminate mortgage insurance.

If you, or someone you care about, would like to explore the opportunities rising home values bring, please let me know by contacting my team. I hope you’ve enjoyed this report.

Millennials and Their Impact to the Housing Market

Have you noticed that many Millennials are slower to leave home than previous generations?

The oldest in the age group, generally considered those born between the early 1980s and the late 1990s, launched careers during the recession. Jobs were scarce, earnings were stagnant, and as a generation, they accumulated record amounts of student debt. Many simply couldn’t afford to leave home.

And that slowed household formation and demand for housing.

Millennials Housing Report

Here’s the good news: Recent economic reports show a steady shift toward more jobs and increased wage growth. Millennials may leave home soon after all.

What could that mean for the housing market? Well, as demand increases, supply could fall and prices could rise further.

And what could this mean for you?

Thinking of moving? Sellers may have a good opportunity to sell quickly and at a good price; we’re seeing this in hot markets like Oconomowoc and Brookfield. Buyers may want to shop early before prices increase more; homes are going under contract within days of being listed.

Planning to stay put? Home values will likely increase as demand increases. If so, you may rest comfortably knowing the equity in your home is growing.

If you or someone you know is considering a change, please let me know. I’ll be happy to help; contact our team.