Home Prices Continue to Climb

Nov 19, 2013

Home prices went up again last month, but the number of sales remained flat. 

An economist says a high inventory is keeping prices from soaring.
Credit Bill McChesney

Wisconsin Realtors Association reports median sale prices are up seven and a half percent so far this year...compared to 2012.  Economist David Clark says a high market inventory should keep prices from skyrocketing.

“I think those increases will moderate as we go forward.  And that ought to keep housing relatively affordable.”

The northern region isn’t doing quite as well as the state as a whole.  Median prices are up less than three percent so far this year.  Clark says the second home market is one factor.

"Second homes are kind of a – they’re certainly a more volatile home market to evaluate.  They have a real strong seasonal pattern.  You find people buying those homes much more consistently in the summer months.”

Northern sales are up about seven and a half percent so far this year.