New ad encourages people to sell their homes
MILWAUKEE - The housing market is changing dramatically across the country and here in Milwaukee.
A year ago, you could barely give a home away. Today, the National Realtors Association is airing a radio ad encouraging people to sell their homes because there aren't enough for sale.
A real estate expert in our area says it's not quite that bad here, but the market has certainly turned around.
"We have just enough houses for just enough buyers." Mike Ruzicka with the Greater Milwaukee Realtor's Association says the market here is really balanced.
The huge drop in prices over the past several years is to blame. "A lot of the sellers have been sitting on the sidelines thinking we're just going to wait a little while," Ruzicka said.
In some cases buyers can't find homes in places where they're looking. Agents are actually sending out mailers asking people in neighborhoods if they'd be willing to sell.
Eventually a tight supply will push up prices. That's happened a little, but prices are still very low compared to five years ago.