The property tax cut Republicans inserted into the state budget would save the owner of median-priced home about $100.
Prospective home buyers are sometimes offering tens of thousands of dollars over the listing price – and are still being rejected because they want a home inspection.
“The housing market is hot. Very hot,” National Association of Realtors Chief Economist Lawrence Yun told FOX Television Stations. But Yun predicts that things could soon cool down.
While many businesses have slowed during the COVID-19 pandemic, the home-building industry has seen a boom — but it could be at risk due to a lumber shortage that has triggered skyrocketing prices for the material.
Cities were deemed affordable after looking at a combination of factors including the average listing price from 2020 and the median income of that city, as well as annual median real estate taxes, according to the report.
With low inventory in Milwaukee County, local realtors are saying now is the time to buy or sell.