The State of the Market — May 2013

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A letter from Joseph A. Horning, President of Shorewest, REALTORS®

Throughout the first quarter, the nation saw growth in home sales and median prices. In Wisconsin, first quarter home sales were up 11% and median prices rose 5% compared with the first quarter of 2012. We are seeing fewer distressed properties, which is one of the reasons median prices are climbing. Unfortunately, the rate of growth has been slowing down, mostly due to the lack of homes available for sale. Even with an increase of just 3% year-over-year, March sales brought the 21st consecutive month of growth. It is the highest sales volume that Wisconsin has seen since 2007, before the housing bubble burst.

The lack of homes for sale is going to be the primary issue the housing market faces during the busy spring and summer buying months. With fewer properties on the market, buyers are writing stronger offers, and some sellers even seeing bidding wars for homes in desirable locations and with proper pricing. So if you were waiting to sell, now may be the best time for a quick sale at a top price.

This month we also celebrate the 30th anniversary of Wisconsin Mortgage Corporation, a member of the Shorewest family of companies. We are proud to provide home loans across Wisconsin, with our team of professionals ready to serve any of your lending needs. Wisconsin Mortgage continues to lead in technology and innovation as the Federal Housing Administration’s number one independent mortgage banker in Wisconsin. We look forward to Wisconsin Mortgage providing their clients with outstanding service for many years to come.

Thank you for partnering with us in this very successful quarter. For more details, see “Shorewest, REALTORS® and Wisconsin Mortgage Corporation Show Impressive Growth” in this newsletter. With the spring and summer buying season in sight, now is the time to contact Shorewest for all of your real estate needs.

Return to the full Quarterly Newsletter here.

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Categories: Home Buying, Home Selling, Real Estate News

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