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    Home Values Rising in Wisconsin Amid Coronavirus Crisis

    Current home values in Wisconsin

    Home values have been rising throughout Wisconsin and are up 6.6% from a year ago.

    Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $349,156, Realtor says.

    Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today’s bargain mortgage rates and the low monthly house payments they provide.

    Here’s how that works in Wisconsin: Let’s say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

    A 30-year mortgage for a $349,156 home at 3.33% would give a typical Wisconsin homebuyer a monthly payment of $1,228, assuming a 20% down payment.

    How the Wisconsin housing market stacks up

    Family enjoying a walk outside

    The state’s median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

    While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Wisconsin, they’re predicted to rise 1.4%.

    Homes right now are going on the market in Wisconsin at a median price of $134 per square foot, versus $134 per square foot nationwide.

    Are you looking to buy? Take a look at today’s best mortgage rates where you live.

    Article Courtesy of , MoneyWise.com,

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