A home for sale in Appleton, April 19, 2023. PC: Fox 11 Online
(WTAQ-WLUK) — Real estate agents in Wisconsin say there are promising signs the housing market is becoming more affordable.
The Wisconsin Realtors Association’s latest monthly report shows existing home sales down 9.2% year-over-year, the first decline since May. Median prices rose 4.8% to $325,000 in November and inventory increased 3.7%, the 26th straight month of growth. Mortgage rates fell to 6.2% and the WRA’s affordability index rose 4.7%.
“While affordability remains a challenge, we did see progress in November, and there are some promising trends,” WRA president/CEO Tom Larson said in a news release. “Mortgage rates continue to trend downward, and the annual rate of home price appreciation averaged just 5.5% through the first 11 months of the year. We hope these trends continue and lead to sustained improvements in affordability in 2026.”
In the northeast region, existing home sales fell 8.3% compared to November 2024, while the median price increased 8.7% to $305,000.
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