A Report on the Oshkosh Area Housing Market

Screenshot of interactive map that accompanies article.

No surprise to me the world of difference

between City of Oshkosh and Town of Algoma.

Oshkosh weathers the ups and downs of the housing market. (Oshkosh Northwestern, 1/28/2012)

Excerpt: This is the fourth straight year in which total sales have declined in Winnebago County - from 1,456 in 2010 to 1,432 in 2011 - much to the surprise of REMAX on the Water Realtor Kris Villars. 

"Our sales were up, our prices were up. Everything looked good," Villars said. "I’m hoping things will get a little bit better, though. Things have stabilized, but it’s tough to say whether it will improve." 

Villars attributed the decline in sales this year to a hangover from the first-time homebuyer tax credit, a program that ended in mid-2010. She pointed to year over year declines in sales for the first six months of 2011, followed by year-over-year increases in the last six months of the year. She said Realtors have been busy prepping homes and home sellers for spring showings in expectation that the growth of the last half of 2011 will continue this year. 

"The first half of the year we were set up to fail because of the tax credit dollars," she said. "That’s why our market looks like it was down." 

 But she added that low interest rates are proving to be a double-edged sword. While they may entice some buyers into the market, low interest rates also can encourage homeowners to stay put and refinance existing mortgages. 

"Refinance rates mean it’s easy for people to stay where they are," she said.