Home sales in Wisconsin during May were up by 11% year-over-year, according to new data from the Wisconsin Realtors Association (WRA).
Last month, Wisconsin recorded 6,566 home sales, compared to 5,917 sales in May 2023. Wisconsin buyers had a greater selection of properties in May – a total of 18,685 statewide listings, up 5.4% from the 17,732 listings from one year earlier.
Also on the rise was the median price – $315,500 in May, up 6.9% from $295,000 one year earlier.
WRE President and CEO Tom Larson noted that his state’s housing market still has affordability challenges.
“This is a tough environment for buyers given the high mortgage rates and limited supply of available homes on the market,” said Larson. “We have tracked Wisconsin’s affordability level since 2009, and unfortunately affordability hit its all-time low point in May. The good news is that supply has been improving since late last year, which has moderated the rate of price appreciation. Hopefully mortgage rates also will moderate and help improve our affordability during the summer sales period.”
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