Wisconsin Housing Sales Tick Up In February After A January Decline

Wisconsin saw an uptick in home sales in February after a drop the previous month.

The latest monthly report from the Wisconsin Realtors Association shows 4,019 home sales last month, up 1.2 percent from February 2018.

Economist David Clark of Marquette University said the state of the Wisconsin economy continues to boost the housing market.

“We have solid job growth, we have a low unemployment rate, and we have relatively low mortgage rates,” Clark said. “The demand conditions continue to be solid. Supply continues to be relatively weak.”

Declining inventory has long been an issue in Wisconsin’s real estate market, particularly in urban areas.

The number of listings in February fell 13.7 percent from the year before. As a result, the median price of a home in Wisconsin rose again in February to $175,000.

February’s figures aren’t necessarily an indicator of the health of the market.

Sales volume last month was less than twice what the state might see during the peak months between May and September.

And the uptick comes after a year-to-year sales decline in January.

“Looking at the first two months of the year, we’re still down about 3.4 percent,” Clark said. “But we’re keeping pace with what was a relatively solid sales market last year.”