August Home Sales Slide as Affordability Continues to Decline
Wisconsin REALTORS® Association Releases August 2026 Real Estate Report
Madison, Wis. — The Wisconsin REALTORS® Association released its August 2026 Real Estate Report today, showing existing home sales in Wisconsin fell 8.3% in August compared with August 2025, reversing the upward trend seen in June and July, as declining affordability and tight housing inventory continued to shape the state’s housing market.
The statewide median home price rose to $362,000 in August, up 7.1% from a year ago. At the same time, affordability declined 6.5%, marking the sixth consecutive month of decline and bringing affordability to its lowest level since the Wisconsin REALTORS® Association began tracking the measure in 2009.
Sales declined in every region of the state in August. The Central, North, and West regions recorded the largest declines, ranging from 11.9% to 14.5%. Sales fell 9.2% in the Southeast, 6.2% in the Northeast, and 0.9% in the South Central region compared with August 2025.
Despite the monthly decline, the broader market remains positive. Year-to-date home sales are up 3.2% through the first eight months of 2026 compared to the same period last year, while the statewide median price has increased 7.3% to $348,838.
The combination of higher mortgage rates, rising home prices, and limited income growth continues to put pressure on housing affordability. While August marked a decline in monthly sales, the year-to-date market remains ahead of 2025.
Amy Curler, 2026 Chair of the Board of Directors, Wisconsin REALTORS® Association, stated, “Even though sales fell in August, closings for the peak season for housing remain the strongest since 2022. This is true for the May-through-August period as well as the traditional summer period of June through August.”
Tom Larson, President & CEO, Wisconsin REALTORS® Association, stated: “Home prices are up by more than twice the rate of inflation over the last year, and this, combined with the steady increase in mortgage rates since February, is eroding affordability. This hits first-time buyers especially hard since they rely heavily on financing to buy their first home. Hopefully we start seeing rates fall as we move into the off-peak season for home sales.”
Dave Clark, Professor Emeritus of Economics and Wisconsin REALTORS® Association Consultant, highlighted, “Although months of inventory still show a seller’s market, the monthly measure has steadily improved on a year-over-year basis since the end of 2022. The oldest Baby Boomers are now 80 years old, and the youngest are 62. As Boomers age, their demand for single-family detached housing will decrease, and this will continue to eventually accelerate the inventory improvement trend seen over the last four years.”
REPORT HIGHLIGHTS:
- Existing home sales fell 8.3% year over year in August, while the median home price increased 7.1% to $362,000.
- Year-to-date sales remain up 3.2%, while the median price has increased 7.3% to $348,838.
- Inventory remains constrained at 4.4 months statewide.
- New listings rose 0.8%, and total listings increased 1.6% year over year.
- The average 30-year fixed mortgage rate was 6.67%, up from 6.05% in February.
- Affordability hit its lowest level since tracking began in 2009, falling 6.5% in August.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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