State of the Market — May 2014

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

Horning, Joe 2 head shot 0612Throughout the first quarter, Wisconsin and the nation have seen an overall decrease in the number of home sales. This year’s extreme cold during the first quarter clearly held buyers and sellers back. Though this may seem discouraging at first, it’s important also to note that fewer distressed property sales have brought this number down as well. Due to the decrease in the number of foreclosures and short sales, we see the health of the real estate market continuing, despite fewer overall sales. We explore the exact numbers of these sometimes-misleading figures in our article Distressed Property Sales Continue to Fall, Impacting Overall Home Sales.

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. Inventory levels have grown in the past year, but still cannot sustain the buyers who are ready to move to a new home now that spring has finally arrived. With fewer properties on the market, buyers are writing stronger offers, and some sellers are even seeing bidding wars for homes in desirable locations and pricing. So if you were waiting to sell, now may be the best time for a quick sale at a solid price.

Thank you for trusting Shorewest with your home buying and selling needs. Please explore our one-of-a-kind infographic in this issue, where we explain the timeline to buying a home. This is a great resource for any of our first-time home buyers, as well as anyone who wants an easy-to-use guideline for buying a home. At Shorewest we focus on providing you with the latest in real estate news, along with tips and advice that you need to make an educated decision. Be sure to contact one of our qualified, professional real estate agents with any questions you may have.

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Categories: Quarterly Newsletter

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