On Friday, October 3, the James A. Graaskamp Center for Real Estate hosted its annual Wisconsin Real Estate and Economic Outlook Conference. The first keynote speaker, Dr. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors, delivered a dynamic housing and macro outlook presentation that set the tone for the day.
Jessica shared timely, data-driven insights into the state of the U.S. housing market, highlighting the widening gap between homeowners and first-time buyers, persistent affordability challenges, and the demographic shifts reshaping housing demand. Her presentation blended rigorous research with a quick sense of humor, making complex market dynamics both accessible and engaging.
Jessica’s keynote received rave reviews from attendees, who praised her ability to translate big-picture trends into clear, actionable insights. It was a standout start to a day focused on understanding the crosswinds shaping housing’s future.
Housing Market Trends and Affordability Challenges
Dr. Lautz noted that while home prices have reached record highs, sales volumes remain subdued due to limited inventory, which is now lower than in 1995 despite population growth. Nationwide, home prices have appreciated 49% over the past five years, and qualifying for a median-priced home now requires an annual income exceeding $107,000. All-cash purchases have reached an all-time high of 31%, driven largely by baby boomers and wealth transfers, while even first-time buyers are increasingly relying on financial assets or inheritance to compete.
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