APPLETON, Wis. (WFRV) – Wisconsinites looking to buy a home in 2023 may have some difficulty as the number of people selling homes is going down.

Real estate broker Stacey Hennessey with Century 21 Affiliated says in Northeast Wisconsin, a healthy market has about 950 homes for sale. Currently, there are only about 180.

Hennessey says, “I don’t know if we’re ever going to see a house priced under a $100,000 that’s in structurally good, sound condition.”

Despite this, the average cost of housing should not change significantly this year.

“We were seeing housing increases of about 18% in 2021. Those numbers have still gone upward. Our predictions for this year are, they should level off or increase upwards of a maximum of 5 percent,” Hennessey says.

Interest rates are projected to go down from 6.5% to 5.5%.

Buyers who do not already have a home they are looking to sell are more likely to close the deal on a new home.

Hennessey says, “If they have any contingencies like they have a home to sell before they can buy something, that’s really tough. What that means is that offer is contingent upon their house selling, and a lot of times, we’re not even to that level of criteria for a buyer.”

The average cost of a house in Wisconsin is $260,000. If you are looking to purchase a home, Hennessey also recommends talking to a financial expert.