Wisconsin Home Prices Rise, Sales Drop In April

Tight Housing Supply Continues To Drive Real Estate Market

sold sign in front of house
Bill Sikes/AP Photo

“I think we’re in for a bit of a slog, is what it boils down to.”

That’s how economist David Clark of Marquette University described the state of the Wisconsin real estate market, which continues to be defined by high demand, limited supply and increasing prices.

The latest report from the Wisconsin Realtors Association found sales of existing homes last month fell four-tenths of a percent from those of April 2017.

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Clark said despite continued high demand, there aren’t enough houses going on the market to replace the ones that have sold.

“You would hope that those new listings would start rising, and they haven’t really grown. In fact, they’re down about 14 percent,” he said. “It just continues to be a very tight market, and there just don’t seem to be any indicators that we’re going to see any easing of that pressure in the next few months.”

The tight housing supply continues to push prices higher.

The median price of a Wisconsin home stood at $180,000 in April, up 5.9 percent from the year before.