You could be waiting for a long time, and perhaps, many years.
Why do we expect prices to remain elevated?
The big reason is consistently low supply.
And one huge factor driving low supply is our region's rapid population growth. Dane County is currently the fastest-growing region in the state, and according to a recent study by the Capital Area Regional Planning Commission, that trend will continue. The study projects the county's population will grow by more than 200,000 residents by the year 2050.
And yet there's very little new supply in the pipeline to accommodate that growth.
Yes, Dane County has added hundreds of new housing developments over the last decade, but most of that new construction has been for apartments, not homes
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