Home Sales, Prices Up In October, Inventories Vary
Regardless where you live, Wisconsin's real estate market is heating up.
That message from a Wisconsin Realtors Association spokesperson, David Clark. The Wisconsin Realtors Association is out with their monthly sales and pricing reports. Sales are rising, and the prices of homes are rising, too. But Clark says where you live makes a difference. He says homes in cities are going faster than homes in the country...
"....while the median price has been going up there's lots of available inventory. There's over a year's worth of inventory available in rural counties as compared to under six months of inventory when you look at the 26 metropolitan counties in the state...."
Clark says another reason for increasing sales is low interest rates on loans. He thinks talk of raising interest rates might spur even more buyers into the market before interest rates on home loans rise. For the 18 counties in the Northwoods, the number of homes sold was up 12 percent from last year and the median price is up nearly 7 percent from a year ago at $$133,000.