Wisconsin homes sales increased 16.2 percent in January compared with the same month last year, according to a recent report by the Wisconsin REALTORS® Association. Home prices varied throughout the state resulting in the median price decreasing by 4.1 percent.
“This is actually the second straight month in which home sales increased in the state, with sales growing over four percent in December and now up substantially in January,” said John P. Horning, executive vice president of Shorewest, Realtors® and chairman of the WRA Board of Directors. “This is very good news for our housing market and a promising sign that we may be turning the corner in Wisconsin’s housing market – and unlike last year, we did it without the federal home buyer tax credit.”
Horning is optimistic about the data for the next few months, especially during the winter months when housing activity is usually low. He added that numbers will be too vague to analyze due to last year’s activity from the federal tax credit program deadlines.
“We won’t be surprised if sales in the next few months don’t match 2010 levels, but the fact that we are seeing solid activity in the dead of winter without federal tax incentives is encouraging,” he said.
Home prices fell between 6.8 and 8.5 percent in the northeast, southwest and western regions of the state, while prices increased in the north by 14.2 percent, in south central Wisconsin by 3.2 percent and in the central part of the state by 2.7 percent compared with January 2010.
Overall, the housing market currently offers affordable homes, low interest rates and an excellent inventory of houses – generating a great buyer’s market.
Categories: Real Estate News