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Living in Madison,Wisconsin Real Estate
Madison Homes Housing Data Looks Better
Upbeat housing data suggests the housing market for Madison homes is gaining energy. This is the kind of housing data that is good news for both buyers and sellers of Madison homes. Some folks don't put much stock into housing data. But we are happy to share what I consider three good housing trends for Madison homes.
Housing Data Reports a Drop in Foreclosures of Madison Homes
This is really good housing news because as Madison homes go, this has a good effect on market prices. Here's the low-down. As long as the housing data showed the foreclosure rate was rising for Madison homes, it put downward pressure on the market price of all Madison homes—WI properties everywhere really. Every time a home went into foreclosure or even a short sale, the negative housing data ticked up. Foreclosures put pressure on every other seller to keep their prices at rock-bottom levels. This price pressure drags the housing market for Madison homes lower and lower and feeds a vicious cycle. But at last, there's some good housing news to report.
Recent Housing Data Reports Foreclosures of Madison Homes are Declining
Down by almost a quarter, this is the kind of Madison homes housing trend that should catch your eye. Just as an upward trend in foreclosure housing data will depress prices, a downward housing data trend lets housing market prices rebound. Of course one "plus" factor in Madison homes housing data doesn't ensure a trend. But two or three good factors in the housing data just might.
Median Market Prices for Madison Homes Trended Up
If the better foreclosure housing data for Madison homes we've already seen is truly making a market prediction of better times, we would expect to see some more, good housing data to back it up. And in South Central WI, which includes Madison homes, it does. The housing data for 2011 median sale prices show a month-over-month increase from February ($135,000) through June ($167,297) with an expected, slight seasonal in August. Two things can drive this type of housing data up. Either prices are going up in general or more higher-priced homes are selling. Either way, it is good news for the 2011 housing market. But wait… there's more!
The Number of Home Sales is on an Upswing and the Housing Data Prove it
A third piece of housing data that supports the market prediction of better times ahead is a steady increase in home sales. February 2011 housing data show just over 500 homes were sold in the region. The good news is that number grew to 1,190 homes sold in June and remained over 1,000 through August. Housing data showing increased sales is a "proof-in-the-pudding" measure of better times ahead.
Is this Madison Homes Housing Data Good News for Buyers or Sellers?
This Madison homes housing data is good news for both! Sellers find the housing data good because market prices are trending up rather than down. Buyers like this housing data because it is always better to buy at the start of prices heading up, rather than on the way down. Uncertainty is what makes buyers afraid to pull the trigger. Housing data that dispels uncertainty is welcome indeed.
So Does this Housing Data Mean You Should Throw Caution to the Wind?
No, you should always keep your eyes open when you are buying real estate in any market either rising or falling. But we are now looking at three good signs in the housing data that suggest a recovery of housing market prices is under way. Good for buyers. Good for sellers. And good for the country!
Nelson & Associates Realtors can Help You Find Perfect Madison Homes
The Madison homes housing data tell the tale. While interest rates are still low, now is a very good time to purchase Madison area homes. Nelson & Associates offers clients an exceptional real estate experience. Call today and we can get started right away!
