Example: Do you know the person who almost bought Apple, Microsoft, etc stock when it was worth $1.29, and now it's worth $150-$200? "I could have had a 10,000% rate of return!!", they say. Maybe you yourself are that person? 🤣

While we cannot fly back in a time machine and buy stock or housing when it was cheaper, I truly do believe there will be people 5 years from today who "wished they had bought a home in 2023 when they had the chance".

Here are two reasons why:

1. The University of Michigan conducts a monthly survey during which they ask individuals and families about the economy as a whole, as well as about specific industries and niches, such as housing. According to their reporting, we recently have approached almost an all-time high regarding appreciation expectations for housing! 

The average American believes house prices will go up ~3.3% per year. In other words, an average $300,000 home in Milwaukee will appreciate $750/month, or $9,000 per year the next 5 years.

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​Even when rates are at 7% and above.

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And here's the deal, often in life consumer confidence/expectations become a self-fulfilling prophecy. If people believe house prices will rise, they'll be more likely to sell their current home and buy a new home, or stop renting and purchase a new place. 

The decision to buy a new place will support higher future property values - since there will be more competition for housing!

This level of optimism is really encouraging/healthy for our housing market! 

2. Economists also believe property values will rise, on average 13.4% over the next 5 years. These are 109 of our countries smartest Economists that believe, on average, property values will continue to rise.

A typical Milwaukee home worth $300,000 today will be worth about $340,000 in 5 years, according to their expectations. How cool is that! 

Questions on this? Text me at 414-488-0438