Since the pandemic, the local real estate market has consistently been a sellers market. Here in Milwaukee, demand has been high while the housing supply remains low. Add in high interest rates, and it’s created a difficult environment for people looking to buy a home in our area.
The housing market is tight across the country, but Milwaukee presents some unique challenges that some other cities aren’t facing. Milwaukee Magazine published a look at the housing market this month. Chris Droser, the executive editor, breaks down some of those challenges.
"It comes down to that lack of supply, there’s just not enough listings out there. Last year listings were down about 15% from the previous year and so far this year they’re essentially flat, so not really new houses coming online, so people just can’t really find homes," says Droser.
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