Good News for Milwaukee Housing Market

A Rador Logic report published today, showed Milwaukee’s housing market resiliency in sales prices.

According to the report, "Year-over-year price dynamics improved in Milwaukee, St. Louis and Sacramento. In Milwaukee, where the housing market has performed relatively well throughout the housing crisis, home prices increased 1% from January 2008 to January 2009.”

Housing transactions in hardest hit parts of the country, such as Arizona and California, are starting to increase by double digits, which could also lead to stabilization in other parts of the country in the near future, according to the report.

The report also stated that, “On a year-over-year basis, the decline in home sales slowed in January, indicating significant demand for homes at “motivated” prices. Total home sales across all 25 metropolitan statistical areas (MSAs) tracked by Radar Logic declined 6% from January 2008 to January 2009, versus 36% from January 2007 to January 2008. Eight of the 25 MSAs displayed an increase in transaction counts compared to January 2008, and 12 more MSAs saw transaction counts decrease less in the year ending January 2009 than in the prior year.”