- Existing home sales in Wisconsin continued their trend downward as housing inventories tightened coupled with mortgage rates rising in August. With a boost of 8.4% compared to last year August the median home price was hitting $271k. Now if you read last’s months fast facts you will see that the median home price was slighter higher in July than August. Past stats show July is a higher month overall in prices for homes.
- Still a seller’s market overall. Not EVERY price range is so heavily in the seller’s market spot. Homes that are priced $500k and higher are on the more balanced side of the spectrum. 6 months is a balanced supply, $500k and up are hovering just over 5%.
- Overall, the combination of higher home prices and higher mortgage rates led to significantly lower housing affordability in the state.
- Has this slowed down the housing market in Green Bay, WI? NO
All information taken from the Wisconsin Realtors Association website: Wra.org