UNDATED (WSAU-WXPR) — January usually isn’t a stellar sales month for Wisconsin’s Realtors, but overall, a spokesperson says the trend upward continues.
David Clark is an economist for the state’s realtors and says home sales were strong in January.
“So if you compare this January to last January, we’re up about 1.7%,” said Clark. “And if you look at the Januaries since 2005, this is the best January we’ve had.”
January saw a continuation of shrinking inventories of homes for sale, especially in urban areas. Clark says the market is getting tight in urban areas.
He said, “Our inventory levels are getting very low. Demand continues to be solid and we’ve got a decent economy. We’ve got low mortgage rates by historical standards, certainly. So, relatively solid demand and relatively weaker supply.”
In the 18 county northern region, sales were identical to a year ago at 354 homes sold, but the price was off slightly at an average of $127,000. 2016 saw a record year overall for state realtors, though some portions of the state were not at the pace of some of the urban communities.
