More than just real estate

Positive news for the Wisconsin real estate market

The Wisconsin REALTORS Association recently released a report indicating some positive news for the Wisconsin real estate market. The report shows the market improved in 2011, with home sales slightly above 2010 levels. Monthly trends in home sales ran well above 2010 levels throughout the second half of the year, with home sales in December making a noticeable jump at levels 11.3 percent higher than in December of 2010.

The Southeast Wisconsin region saw the strongest growth in home sales, where existing homes sales rose 3.4 percent over the previous year.

Another bright spot in the WRA’s recent report showed inventories of unsold homes dropped 12.5 months of supply in December, the first time it has been below 13 months since May of 2010. In addition, the Wisconsin Housing Affordability Index, which shows what percentage of a median-priced home a buyer with the median family income can afford, stood at 269 for December 2011, up from 230 in December 2010. It is still very much a buyer’s market with exceptional home affordability levels paired with historically low mortgage rates. If you are interested in buying a home, contact a knowledgeable, professional Realtor near you.

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