Southeastern Wisconsin experienced an increase in sales and new listings in August 2013, continuing the pattern of growth we’ve seen in the real estate market throughout the year. Area experts are optimistic about this trend carrying on through the end of 2013 and the start of 2014.
According to Multiple Listing Services(MLS), which monitors all homes for sale throughout southeastern Wisconsin, homes for sale in August increased 16.6% over August 2012, with 1964 homes sold. New listings also grew, increasing 9.9% year-over-year with 2,724 new homes for sale in August.
From January 1-August 31, southeastern Wisconsin has seen steady improvement, with sales up 14.1% over the same period throughout 2012. Though the beginning of 2013 was characterized by low inventory levels, August was the fifth consecutive month of increased listings compared to 2012. Year-over-year, new homes listed for sale were up 1.5%.
These numbers continue to show the strength of the housing recovery. The Greater Milwaukee Association of REALTORS® (GMAR) states, “the cumulative level of sales through August make the 2013 market look a lot like the market seen in the early 2000s.”
“We’re excited about the sustained growth of the housing market. Shorewest continues to see increases in volume, number of transactions and listings in 2013, especially after our record-breaking July sales,” says Shorewest President Joe Horning. “We’re expecting a strong finish in the last months of this year and look forward to helping more families with their home buying or selling needs.”
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