Real estate company Redfin predicts Madison will have a hot housing market in 2026.
It joins a list that includes Minneapolis, St. Louis and Cleveland.
The Wisconsin State Journal reports that Redfin’s analysis on the region said the Midwest is “fairly affordable” and provides relative safety against climate change events affecting other places, such as wildfires or floods.
Redfin also predicts mortgage rates will sit around 6.3%, wages will grow much more quickly than home prices and home prices will rise about 3%.
At the Greater Madison Chamber of Commerce annual dinner on Oct. 21, keynote speaker Daryl Fairweather, chief economist at Redfin, said Madison will have to prepare its housing for a greater population.
“There are going to be more climate migrants or just people looking for better quality of life, coming to Wisconsin, coming to Madison,” Fairweather said. “But growth is hard, and if the population is going to grow, we need to start… to think about, how can we prepare for that growth?”
