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Conditions strong in Wisconsin

January 19, 2011 - A report shows buyers moving to Wisconsin are enjoying a housing market and economy that's relatively stable compared to others around the country.

In a report published in Wisconsin Real Estate Magazine, Stephen Malpezzi, an expert from the University of Wisconsin, wrote that even some of the state's worst-performing real estate markets are in better shape than others around the country. The state's unemployment rate of 7.8 percent is better than the national average and well below some of the country's hardest-hit job markets.

Additionally, while the country's real estate took a dive during the housing bust in 2007, Wisconsin experienced far fewer severe affects, allowing it to stabilize much quicker than most areas of the country.

"Some of our smaller metropolitan areas like Eau Claire and Green Bay, though still affected, have seen less of a boom and bust cycle than the rest of the country, and nothing close to the highly volatile markets in states like California and Florida," wrote Malpezzi.

Wisconsin has also seen fewer foreclosures compared to the rest of the country. One in every 692 homes in the state received a foreclosure filing in December, better than the national rate of one in every 501 homes, according to RealtyTrac.
 

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