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Home sales for July in the Metropolitan Milwaukee market were down 0.8% from the same period in 2024.
Sales have been very mixed this year. January was up, followed by four down months, up in June, and then down in July. For the year however, total sales are up 1.1% from 2024.
Milwaukee and Waukesha Counties are the engines that drive the regional real estate market, and there was good news from both in July. Each saw an increase in unit sales, but more importantly both saw substantial increases in new listings.
The Metropolitan market has been struggling to accommodate buyers’ interest in purchasing a house for years due to low inventory. New listings in July pushed the inventory level up to 3.1 months, compared to 2.9 months in July 2024.
That’s a far cry from a “balanced” six-month market brokers would like to see. The Milwaukee market needs an additional 4,000 units to reach that threshold.
Increasing new construction would help meet demand and ease price pressure. In “normal times” new construction would add 3,000 - 4,000 units to the metropolitan
market annually.
To read the full report and graphics, click here.
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