Wisconsin recorded 6,607 home sales during May, a 2.1% drop from the 6,752 transactions recorded one year earlier.
According to data from the Wisconsin Realtors Association (WRA), the decline in sales came as total statewide listings surged by 8.5% from 20,309 in May 2024 to 22,033 last month. Also on the rise was the median price – $330,000, up by 4.3% from the $316,250 recorded one year earlier.
The Wisconsin Housing Affordability Index had a value of 124 in May last month, up 5.1% from the value of 118 set in May 2024. However, the index remained low by historical standards.
“Median family income increased 7% since May of last year,” said WRA President and CEO Tom Larson. “This increase, combined with a slight improvement in the 30-year mortgage rate and moderately lower price appreciation over the last year, led to a slight improvement in affordability. Hopefully these trends continue and will help first-time buyers achieve the goal of homeownership.”
