There’s a bullish housing market in Wisconsin. “This market is on track for setting a record this year,” said Wisconsin Realtors Association President Mike Theo. Sales were up five percent the first three quarters this year from the same period in 2015, while the median sale price rose just under five percent to $165,000.
Inventory – or homes for sale – was tightest in the Milwaukee and Madison metro areas. “We are a little bit concerned about that invertory shortage. Certainly if we had more inventory to sell we would have sold it.” He added that the supply in rural areas was much higher.
Theo said it’s hard to underestimate the positive impact of historically low interest rates on the market. “If inventories remain tight and the interest rates start to go up, that’s going to put some definate upward pressure on prices, and that eventually could slow demand.”