A home for sale in Appleton, April 19, 2023. PC: Fox 11 Online
(WTAQ-WLUK) — Home sales in Wisconsin increased in June for the first time in four years, according to the Wisconsin Realtors Association’s monthly report released Thursday.
WRA says existing home sales rose 8.1% over June 2024, the first time since 2021 that year-over-year sales increased in a month of June. Year-to-date, home sales rose 0.1% over 2024.
“June is usually our most active month for closings, with just over 11.5% of the state’s annual sales typically taking place during that month,” WRA board chair Chris DeVincentis said in a news release. “So it was good to finally see an upturn in June’s performance compared to the previous June. Hopefully ongoing inventory improvements bode well for the remainder of the peak summer sales period.”
Affordability improved 2.6% year-over-year, with mortgage rates falling slightly and the median house price rising 4.6% to $340,000.
“This is the fourth straight month where median price appreciation has been moderate, with prices going up less than 5% annually in three of those four months,” WRA president and CEO Tom Larson said in a news release. “In contrast, the annual appreciation of median prices had exceeded 5% every month since June 2020. We hope this moderation in prices is a trend rather than an aberration.”
In Northeast Wisconsin, home sales rose 4.1% over June 2024. The median price was $315,000, a 5% increase over June 2024.
Comments