Metro Milwaukee home values projected to rise 1.9% this year

Seattle-based Zillow predicts that home values for the metro Milwaukee housing market will rise 1.9 percent this year.
That is below Zillow’s 3.2 percent expected growth rate for the national housing market.

The metro Milwaukee housing market hit bottom in the first quarter of 2012 and home values in the market have risen 3 percent during the last year, and 1.3 percent from the fourth quarter of 2012 to the first quarter of 2013, to a median home value of $166,600, according to Zillow.

Milwaukee metro home values are now back to May 2003 levels, according to Zillow.

Other notes for the Milwaukee area housing market, according to Zillow: 9.37% of all sales in March were foreclosure re-sales; 5.5 out of every 10,000 homes were foreclosed upon in March; 33.4 % of all homes sold in March sold for a loss.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display