Stabilization on the way in Wisconsin

WRA: Wisconsin Housing Market May Be Stabilizing The Wisconsin REALTORS® Association (WRA) reports that the state’s residential real estate market is showing signs of stabilization. The WRA recorded a 10.5 percent decline in statewide home sales during the second quarter, which was well below the steep reductions in Wisconsin sales volume that have been reported over the previous few quarters. WRA Chairman Michael Mulleady comments, “Overall, the reduction in existing home sales of 10.5 percent, comparing the second quarter of 2009 with the second quarter of 2008, was much more moderate than we experienced earlier in the recession where the average decline has been much steeper. . . . This is the first indication that we may be getting ready to turn the corner on real estate in the state.” WRA President William Malkasian added that the new federal tax credit for first-time home buyers has definitely enticed more purchases of so-called “starter homes,” a trend that brought down the state median price. Read the whole article at Milwaukee Business Journal (WI) (08/12/09)  As posted in the REALTOR Newswire

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