State’s October Home Sales Up 24%
Record low mortgage rates fuel big increase compared to October 2019.
Wisconsin home sales continue to grow.
The latest report from the Wisconsin Realtors Association shows more than 9,447 home sales last month, up 24.9 percent from October 2019.
“We’re in the seventh month where we’ve hit a new record low for the 30-year fixed-rate mortgage, and that has got an awful lot of people trying to buy homes,” Clark said. “Refinancing is also pretty active as well.”
“The number of listings is down by about 27 percent compared to where we were last year,” Clark said. “Demand is strong. You’re selling a lot of that inventory, you’re just not replenishing the inventory.”
The falling supply and continued strong demand pushed home prices up again last month.
The median price of a home in Wisconsin increased 11.1 percent in October to $220,000.
October Sees A Sharp Rise In Wisconsin Home Sales was originally published by Wisconsin Public Radio.