January 2022 Home Selling and Home Buying Housing News

According to Dave Clark, Marquette University Economist and WRA Consultant:

“Annual inflation rates continue to rise, with headline inflation increasing to an annual rate of 7.5% in January. Ongoing supply chain problems and labor shortages combined with spikes in energy prices has the Federal Reserve on alert. To keep the economy from further overheating, the Fed is likely to begin raising short-term interest rates more aggressively than was suggested in its December meeting. Containing inflationary expectations is the best way to keep mortgage rates from rising more quickly.”

Ouch. Like all around ouch. It’s now March 2022 and mortgage rates have risen a little bit, gas prices are now ridiculously high, and inventory for homes to purchase are still so so incredibly low. The season for home selling in Green Bay, WI has definitely picked up, as in, there are more homes for sale – but it’s not helping. Homes are selling at record speed for top dollar. Bidding wars are the norm and have been. Homes are selling above ask price with no contingencies. 

Gas prices are making people cranky. Inflation is making people cranky. The housing market is making people cranky. Do you know what doesn’t make people cranky?? A trustworthy Realtor! Elysian Realty can help navigate you through this insane time – for your home selling and home buying needs. Although being a Realtor, we can’t help you with inflation or gas prices, but we can complain right along with you on those fronts 🙂

Serving many areas: Green Bay, WI : De Pere, WI : Appleton, WI : Hortonville, WI : Seymour, WI : Suamico, WI : Oconto Falls, WI : Little Chute, WI, New London, WI and More!