Wisconsin Housing Market 2022 Selling Predictions
It's time to plant a seed for Wisconsin homeowners. Is now the time for homeowners to consider putting their home on the market? The average homeowner in Wisconsin has recognized about $28,000 based on the 2021 housing market. While that number is not as high as what it is for the national average ($56,700), that is record-breaking equity growth for homeowners. That means that selling your home now means quite a bit of recognized appreciation in a hot sellers market.
Realtor.com is also predicting that sellers that had originally said they were going to listing April, May and June of 2022 will now be doing that listing in January, February, or March. We are also seeing through the app that realtors use to schedule showings, ShowingTime, that showings are creeping up which means that buyers are out there and will continue to come in to the market earlier in the year.
Buyers are also completely aware of rising interest rates which will drive them into the market. Current market rates (December 2021) are around 3.1% (30 year fixed per Freddie Mac). This rate is expected to go up to 3.5% or 4% (varies by prediction) by Q3 or Q4 of 2022. Buyers will want to buy earlier in 2022 as housing affordability is intricately effected by that rise in interest rates.
Don’t wait if you are contemplating selling your home.
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