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44 - Summer 2024 Market Update & A Buyer's Window?
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Summer 2024 in Milwaukee is a bustling place and time! The real estate market isn't far off from that description over the last few months. The Republican National Convention was here and gone, Summerfest was a success, and State Fair is right around the corner.
In this episode John unpacks the current metro market but these "stats" might surprise you. Comparing June, 2023, sales statistics to June, 2024, brought some good new to the market but not all good news. Believe it or not, we might be in a Buyer's window. A "Buyer's window" I mean? YES! Now might actually be the time - probably only for a few months - when a savvy Buyer makes the move to purchase a home while inventory is up, interest rates slowly starting to move, but more importantly, other Buyers haven't figure out NOW might just be the time.
Much depends on what the Fed decides to do in the upcoming months, but consumer prices are still up, rent is up, gasoline is up, food is up...seems to be the story of the last few years in our economy. Buyers are getting squeezed by inflation and home prices aren't falling. However, some sellers are actively lowering their prices, which is good news for Buyers. Could this be a Buyer's window that only last for a few more months before many other Buyers begin flooding the market? Time will tell, but join John in the discussion to find out more.
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