UNDATED (WSAU-WXPR) — A new study shows most home prices in Wisconsin have not returned to pre-recession levels.
Wisconsin Taxpayers Alliance spokesperson Dale Knapp (nap) took a look at figures from the Department of Revenue about equalized home values throughout the state.
He said, “Statewide, home values are still about 4.5 percent below where they were just prior to the recession. When we look county-by-county, there’s only a few areas of the state where the recovery in values have brought residential properties back above water where they were prior to the recession.” The home values increased the most where employment has been growing, including in western Wisconsin, Madison and the Fox Valley areas. Northern Wisconsin hasn’t been as strong.
Knapp said, “For most of northen Wisconsin they remain down at least five percent and a lot of the very northern counties, residential values are down more than 10 percent from where they were prior to the recession.”
While residential properties in many parts of the state were struggling to recover, Knapp notes that commercial properties grew almost 7 percent and manufacturing properties grew almost 11 percent.
46 of the state’s 72 counties showed property value declines, with 26 showing increases.