New housing report puts WI at or near national loan averages

By  | 

EAU CLAIRE, Wis. (WEAU) - A new housing report shows Wisconsin home owners owe more than the national average, but Eau Claire realtors said it's not a major concern.

A new report from the CoreLogic research group showed Wisconsin’s mortgages borrowed 69.5 percent of the home's value, about eight percent more than the national average. It also listed 13.5 percent of homes with negative equity, meaning they owe more than the home is worth, just two-tenths of a percent away from the country's average.

Kleven Real Estate owner and broker David FitzGerald said those numbers won't necessarily reflect what's happening in Eau Claire.

“Realistically you're selling your house in the local market, so really talking to a realtor and finding out what's happening in the market is real important,” he said.

Both he and realtor Bob Ritsch, a board of directors member with the Realtors of Northwestern Wisconsin said they expect a strong year with higher home values and demand.

“It's a good time maybe to think about getting your house on the market for sure. The inventory was absorbed so the supplies are less than they had been in the past,” Ritsch said.

“I would suspect that this year will be a very good year and it's going to be a lot of good activity relatively quickly as things warm up,” FitzGerald said.

FitzGerald said the beginning and end of each year are slow for home sales, especially this winter, delaying buyers and sellers from making a deal.

The comment sections of our web set are designed for thoughtful, intelligent conversation and debate. We want to hear from the viewers but we are not obligated to post comments we feel inappropriate or violate our guidelines. Here are some of the criteria you should follow when posting comments:

Comments cannot be profane or vulgar. Children and families visit this site. We will delete comments that use profanity or cross the lines of good taste.

We will delete all comments using hate speech. Slurs, stereotypes and violent talk aren’t welcome on our web site.

Comments should not attack other readers personally.

We will delete comments we deem offensive, in bad taste, or out of bounds. We are not obligated to post comments that are rude or insensitive.

We do not edit user-submitted comments.

As a host WEAU 13 News welcomes a wide spectrum of opinions. However, we have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason WEAU 13 News reserves the right to not post or to remove any comment.
powered by Disqus