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La Crosse County Housing Market
New housing starts continue to rise, as there is still a shortage of housing in La Crosse County. Currently, there are only 86 single-family homes on the market with 26 of those marked under contract. We have the lowest inventory I have ever seen in my entire career.
Not only are single-family homes being built, but there are a plethora of multi-family units being built to offset some of the demand.
Rehabbing the current inventory is also a popular option in La Crosse County.
The Benefit of Working in the Midwest
A great benefit of working in the Midwest and La Crosse County in general, is being able to have warning of what is to come.
Canary in the Coal Mine
Back in the day, miners used to take a canary in a cage down into the mine with them to warn them if the air quality had become dangerous. If the canary died, it was time to leave the mine posthaste. This is where we get the phrase canary in the coal mine.
Market changes in La Crosse county are delayed by about two years from what happens in the national markets.
The markets that we watch as our canary in the coal mine are southern Florida, Phoenix, AZ and Las Vegas. What happens in those markets will take, on average, two years to get to the Midwest.
Decreased Risk in the Midwest
Another effect is the value reduction in a housing decline in La Crosse County is a fraction of what happens in our canary in a coal mine markets.
The average market value reduction in our canary examples was between 40 and 60%.
The market average value reduction in the 2008 crash was about 10% across-the-board.
Therefore, we love working in La Crosse County and in the Midwest.
Getting a Massive Market Advantage
The added bonus of being able to prepare for the downturn is, this is when the most profit can be made. Knowing that the market downturn is on it’s way allows the savvy investor to prepare to buy when the market goes down.
The Hilton fortune was built when Japan attacked Pearl Harbor. Many in California thought Japan would be coming to California next and real estate went on sale. The Hilton family purchased a great deal of real estate in this downturn which established the baseline of their massive holdings.
We’ll Be Ready When It Comes
Preparing for the next downturn is one of the major focuses we have in our real estate investing plans. If you ever have any questions concerning our opportunities give me a call at 608-306-1199.
— Joshua Dudgeon
“December 2020 home sales were 8% higher than existing home sales in December 2019, and the median price rose 10% to $215,500 over that same 12-month period.”
Wisconsin REALTORS® Association (WRA)