April was the strongest month for Wisconsin home sales in five years, based on numbers released by the Wisconsin Realtors Association.
The group said April sales were up nearly 17 percent compared to last year, the highest volume recorded since 2010.
Michael Theo, the WRA president and CEO, said the interest rate on a 30-year fixed mortgage is 3.67 percent. However, there are signs the federal reserve may increase those interest rates.
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“I do think that’s a factor of people wanting to get into the market now. It might be helping us on the demand side, which is the sales up despite the prices going up,” said Theo.
The median price for a Wisconsin house is now just under $155,000, an increase from last April’s median price of $140,000.
Theo added that he doubts another housing bubble is on the horizon, saying that lenders have tightened up their criteria for who qualifies for a loan.
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