February 13, 2016

Home sales increase

Home sales continue to grow in the Badger State.

Wisconsin existing home sales jumped last month compared to the time a year ago, according to the Wisconsin Realtors Association, and the industry has seen growth for nearly two consecutive years.

“We’ve seen sustained growth now for 22 straight months in sales,” says Michael Theo, president and CEO of the Realtors Association. “In April it jumped 9.2 percent above April of last year so that’s real positive growth right as we’re starting this prime selling season here in Wisconsin.”

In addition to increased sales, a report from the group shows median prices climbed by a solid margin, growing 7.8 percent over the past year to $138,000. Theo says we are in the prime selling season. “In a typical year about 60 percent home sales takes place between April and September roughly. The first quarter numbers were real strong in sales. These April numbers are equally strong so I think it’s a good foundation for that prime selling season.”

Theo is hopeful the numbers will be sustained throughout the year. Contributing to the growth in home sales — mortgage rates continue to be at historic lows.

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