October 30, 2014

Statewide home sales continue climb

A steady recovery continues in Wisconsin’s housing market. The Wisconsin Realtors Association says just over 3,600 existing houses were sold in February, 11 percent more than in the same month a year ago. WRA economist Dave Clark says it’s the 20th straight month of double-digit increases for sales.

Clark says most regions of the state saw growth, with the central region experiencing the biggest jump at 24.4 percent. The northern region did experience a slight drop of about three percent, which Clark says is not a major concern in what’s traditionally a slow month for home sales.

The median selling price also jumped by over six percent last month, climbing to $122,000. In February of 2012, the median value was $114,950.

Sale prices were also helped along with a drop in available inventory. The Association says there were 13 percent fewer homes on the market last month, compared to February of 2012.

John Colbert, WIBA