Fast facts and stats on the housing market in the state of Wisconsin for the month of May 2022
- Home inventories continued to tighten with only 2.6 months of available supply in May. For a stable housing market it would be 6 months of available homes for sale. That means we are still in a strong seller’s market. Where are my potential home sellers at?! This is your sign that it’s a GREAT TIME to sell your home! (And sell with Elysian Realty)
- The annual inflation rate as measured by the percentage increase in the Consumer Price Index spiked to 8.6% in May. This has been the largest increase since December of 1981.
- The 30-year fixed-rate mortgage rate rose from 2.96% in May 2021 to 5.23% in May 2022.
- The average # of days on the market was 63 days – and if you’re in the Brown County WI, Oconto County WI, Outagamie County WI, Calumet County WI, Kewaunee County WI or really most of Northeastern Wisconsin, these houses are getting multiple offers well above asking price within a matter of DAYS