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Industry News

Badger State buyers still buying

November 19, 2002

Statewide home sales, median price climb above year-ago levels

Inman News Features

Buyers in Wisconsin showed no cold feet in the third quarter as sales outpaced those of the same quarter last year.

Statewide home sales grew by 5.7 percent to a seasonally adjusted 26,550 homes in the third quarter compared with the same period last year, according to the Wisconsin Realtors Association.

"Low interest rates have certainly helped maintain a robust housing market in Wisconsin and nationally," said WRA Chairman of the Board Robert Weber. "Hopefully, lower rates will eventually stimulate the macro-economy as well."

Third quarter sales in all areas of the state were above year-ago levels with the strongest regional growth in the South Central region where home sales were up 14.4 percent over last year. The strongest growth in that region occurred in Jefferson County, which saw a 31.5 percent increase over the same quarter last year.

WRA also reported that the statewide median home price was up 7.7 percent to $138,500 compared with year-ago prices.

"The Midwest's home prices are typically below that of other parts of the country," said Malkasian. "Thus, even with healthy price appreciation, housing in the region and Wisconsin remained within financial reach of working families."

Median home prices for the third quarter this year exceeded year-ago levels in all areas of the state, according to WRA.

WRA is a trade association with approximately 12,000 members.

Copyright: Inman News Service

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