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Are We In For A Real Estate Market Shift? The News Is All Doom & Gloom! Not So Fast!

Monday, June 20, 2022   /   by Julie Winter-Paez

Are We In For A Real Estate Market Shift? The News Is All Doom & Gloom! Not So Fast!




Yes the real estate market is seeing some shifting in Northern Wisconsin & around the United States but let's take a breath and look over the data.

We just had a fantastic office meeting with our Eagle River agents and we were talking about data. And about a lot of the stuff you hear online and in the newspapers about the market shifting and doom and gloom. And the interesting thing about data is you can manipulate it to anything that you want to manipulate it to. For example, I just sent out a seller's market report and yes, there is shifting, it's not catastrophic shifting, but we're seeing small changes. One of them was in the month of May, we had more new listings hit the market than we had in the month of May of last year. And that has been a trend that we have not had to happen for about 12 to 14 months. But it is a change, something to be noted. However, it does not mean the complete market has shifted and tipped upside down by any means. When you still look at the five year average of homes listed as a whole in the Northwoods, it is still down probably about 500 homes. So from 700 to 1300 that were listed in May of 2018.

So again, you can take data, you can use it to stare people, you can use it to twist things however you want to twist them. But I guess the main thing is you need to trust the person that's giving you the data and the person who is giving it to you should be able to help you analyze it so you understand what's happening, not use it to scare you into making a decision one way or another.

So hopefully you're working with somebody like that. And if you're not, we would love to help you with the JWP Group and help you to understand the data. So whether you're a seller or buyer, you can make a good educated choice in this particular market. Thanks and hope to see you soon in the Northwoods.






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