Home Prices Rising Across State
Shortage of homes for sale pushing up prices, 8 percent increase last month.
Wisconsin home sales have lagged behind last year’s for a third straight month.
The declining number of homes on the market coupled with continued strong demand pushed home prices up 8 percent last month, to a median of $188,000.
“The good deal that you got from shifting out to a little longer commute? That’s drying up a little bit,” Clark said.
Clark said he expects price increases will slow somewhat as more homes come on the market.
But, he said, that won’t happen right away.
“The improvement is going to take some time. Maybe we’ll see some modest improvement within a year’s time. I suspect, though, the rest of this year is going to look an awful lot like the first half of the year looked like.”
Sales for the first five months of 2018 are about even with last year’s record sales because of a better-than-expected start to the year.
Limited Housing Supply Continues To Drive Up Wisconsin Home Prices was originally published by Wisconsin Public Radio.