Buyers looking for bargains this winter may be in luck.

Price increases will slow

Purchasing a home this year may be more attainable than you think, with prices expected to increase less drastically this year. The appreciation rate was lower at the end of 2022 than it was all year. In a housing market that has seen a decline in affordability, this is a positive turn for buyers searching the market for a new place to call home in 2023.

“The 5.5% annual rate of increase we saw in December was the slowest appreciation rate all year,” said Joe Horning, 2023 Chairman of the Board of Directors, Wisconsin Realtors Association. “This cooling of price growth can be good news for buyers looking for bargains during the slower winter months.”

Nationally, a relatively flat or neutral appreciation is expected in 2023. Read more in this article from Wisconsin Right Now here.

Moderating mortgage rates

Mortgage rates might also be finally taking a turn for the better after more than doubling since December 2021. According to the Wisconsin Realtors Association, the 30-year-fixed mortgage rate was down half a percent since October. Moderating mortgage rates are a good sign that it may be more feasible in the near future for those looking to buy a home. If you do decide to purchase, it will cost you less over time. 

Housing shortage will continue

For years, the country has been in a housing shortage. That is expected to continue in 2023 with no quick fix. The pandemic greatly impacted the housing shortage. According to the National Association of Realtors, around 7 million homes are needed nationwide to help correct the shortage.

Consider buying new

With housing prices expected to level out in 2023, it’s a great time to consider buying a home. A new construction home is a great option to consider. Our homes are built with the highest quality materials and state-of-the-art energy-saving materials.

Energy efficient

An older home, in general, lacks the energy efficiency of a newer model. An energy-efficient home helps you save money, live more comfortably and conserve energy. At William Ryan Homes Wisconsin, we pride ourselves on our energy-efficient homes. Our Wisconsin houses are built with a number of different energy-efficient features, including low-E/argon windows, 93%+ energy-efficient furnaces with a programmable thermostat, sealed supply and multiple returns. You can browse all the energy-efficient features of our homes here.

Customizable

Another benefit to buying new is the option to customize your space to suit your needs best. Every family is unique, so we cater to our clients to create a space that best fits their lifestyle. We have an easy-to-follow five-step process - choose, personalize, purchase, build and live.

Work with us

We have helped many people like you move into the home of their dreams. Let us help you! You can reach our Madison office at 608-319-1165 or our Milwaukee office at 414-310-9342. We look forward to hearing from you and answering any questions you may have!