September 22, 2014

Housing market rebounded in 2012

Wisconsin’s housing market improved in 2012. Sales of 62,500 existing homes represented an almost 21 percent increase over the 52,000 sold in all of 2011. Buyers paid a median price of $133,500 last year, 1.1 percent more than 2011.

“One-point-one percent shows some good price stability, particularly when you consider Wisconsin versus some of the other states like Arizona, California, Florida, Nevada, where the recession really hit home,” said Mike Theo, president and CEO of the Wisconsin Realtors Association. “They had very inflated prices, so they had a lot further to fall.”

“That stability is really necessary in the marketplace, so people looking to buy a home know that investing in home is really good for their portfolio, as well as providing a home for their family.”

Theo said every region in the state saw increases in sales, with central, south-central and southeastern Wisconsin leading the way. Barring another economic downturn, he said Realtors are expecting continued growth, with “modest” price appreciation, in the year to come.