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Milwaukee Metro Area Sees Best Sales In 12 Years

There is reason to rejoice for mortgage professionals in the Milwaukee metro area. Sales of existing homes rose a bit in December 2017, though it was just what Milwaukee need to push it to the best sales year since 2005, according to National Mortgage News.

"A report Monday by the Greater Milwaukee Association of Realtors showed 1,392 closings took place last month in the four-county metro area, compared with 1,371 in December 2016," according to the NMN report.

"For the full year, sales of existing homes totaled 21,357 in Milwaukee, Ozaukee, Washington and Waukesha counties, a gain of 1.7% over the 2016 total of 21,007."

While the market seems to be booming, it is also having quite the effect on the prices of homes. The average home price in the Milwaukee metro has risen 4.6% according to the report and in some counties, the average home price is higher than the metro average.

Again, metros like Milwaukee are facing trouble when it comes to meeting the the demand and that is directly linked to the uptick in prices.

For more on the growing housing market in Milwaukee metro areas, click on the image above.

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