After months of continued growth, sales of existing homes in Wisconsin took a sharp drop in November.
According to figures released by the Wisconsin Realtors Association, sales volume in November was down about six percent when compared the same month last year. WRA economist Dave Clark says “it’s a little bit puzzling,” considering October was a strong month for the housing market. He says they were really expecting that pace to carry over.
Despite the drop, he says the overall fundamentals of the housing market remain strong.
While sales were down, median home prices did continue to tick up, rising to about $145,000. Compared to November of last year, that figure was up about 6.6 percent.