WAUSAU, Wis. (WAOW) — The numbers are in and Marathon County home sales saw a pretty significant drop in October, down about 11%, but if you’re still looking to buy, That’s not necessarily a bad thing.
The housing market looked great every month throughout 2023, but while it was relatively strong for sellers, buyers weren’t as lucky between low inventory and high mortgage rates.
But the latest report from the Wisconsin Association of Realtors found home sales in Marathon County dropped significantly last month, leading Realtor Austin Solomon to believe there could be light at the end of the tunnel as the year closes out. He said that there is a sex.
“I think we’re expecting rates to go up. There’s talk from a lot of sources that they’re going to stay where they are or maybe go down a little bit in the first half of next year and then go down into the second half of next year.” ” said Coldwell Banker real estate agent Austin Solomon.
There is no exact judgment or reason as to how the market will move, but for now we just have to be patient and wait until the right time comes, and the next few months are actually some of the best buying periods of the year. He said it would be. With sales trending down and fewer people going out, housing is needed.
Real estate experts say it’s a good idea to keep an eye on interest rates and be prepared to make an offer if they drop.