Each month when I write up a snippet of how the home sales were it’s mostly the same: tight inventory, increase in home values. Well for October the news is a slightly different! Home sales increased as well. They actually increased over the whole state of Wisconsin but the north. In our region, the Northeast, they increased by 1.1%. Doesn’t sound like much, but it’s still an increase.
Why the increase? I suspect it partly has to do with the end of the year rush. The months of November and December are quiet, relatively speaking. So, October would be like a last minute rush to sell (and buy) before darkness descends. AKA, winter!
There is still tight inventory, which has been one consistency since the beginning of this year. I’m curious to see what next year will bring. Mortgage rates are still low, and the unemployment rate is still low. Those are two key factors with buyers able to buy.