Wisconsin's housing market is slowing down, but prices remain strong. New numbers out from the Wisconsin Realtors Association show home sales have declined in recent months. Still, Association President Bill Malkasian says the state's housing market remains one of the strongest in the Midwest. He says the slow down is nothing to panic about since interest rates remain low and many quality homes are still for sale.
Malkasian says the median price for a home in Wisconsin is about $166,000. That's about the same price it was at during the same time period last year. He says it's a good sign for homeowners who are looking to get in the marketplace, since it shows prices are leveling off. Overall home sales dropped about 7.5% from the last year's levels.
The past five years have seen on the strongest housing markets in history. But, Malkasian says sellers need to realize that buyers now have more power. He says those looking to sell a home need to price it competitively if they want to sell it quickly.