The number of homes sold in the state during October held steady, while sale prices continued to climb.
The Wisconsin Realtors Association says its members sold about 6,700 homes last month – about the same number as October of last year. WRA president Mike Theo says that follows one of the strongest 10 month periods in the state since the recession and puts Wisconsin on a path for over 80,000 home sales by the end of the year.
While sales slowed a bit, median prices continued to rise – ending the month at $165,000. Theo says a big reason for that is the inventory of homes available for sale right now, combined with interest rates that remain at historic lows. “That lack of supply is really putting upward pressure on prices,” he says.
The WRA says prices for the first 10 months of 2016 were up 5.1 percent over the same time period in 2015.