Home sales in Wisconsin fell in October but prices remained stable, according to the Wisconsin REALTORS® Association (WRA). So far this year, sales of existing homes were down 6.9 percent with median prices down just 0.9 percent since January.
Comparing October 2010 to October 2009, home sales were down 36.3 percent but median prices remained unchanged at $140,000.
“The market continues to experience distortions created by the two separate federal home buyer tax credit programs,” said John Horning, Chairman of the WRA Board of Directors. “Last October the market saw an inflated number of buyers who were trying to take advantage of the first tax credit program which was due to expire at the end of November. That inflated last October’s sales and makes this October look particularly weak by comparison,” said Horning. “We may have to wait another year before normal sales patterns return, allowing us to have truly valid monthly sales comparisons.”
View the full article at: Wisconsin Real Estate Magazine