Home sales are down throughout the Badger State, while prices are up.
Existing home sales in Wisconsin were down 11.6 percent over the April 2013 to April 2014 period. Mike Theo is president of the Wisconsin Realtors Association. He blames the harsh winter weather for the negative impact on the state housing market, particularly in the northern part of the state.
In addition to the weather, Theo says other factors influence the home sales market, including home mortgage rates, higher home prices, and the national economy. He’s “cautiously optimistic” for the remainder of the spring and going into the summer selling season.
Median home prices were higher than the previous year, by 1.4 percent — up to $140,000.
Every region of the state experienced a decline in April sales. The central region fared the best, falling just 3.8 percent. Sales in the western region fell the most, at 25.5 percent. The south central region of Wisconsin had the highest median price for a home at nearly $170,000.