Northeast WI: Better Local Home Sales Defy National Statistics
Original story at WBAY-TV (Green Bay, WI) (08/24/10) Hrapsky, Chris and mentioned in Wisconsin Realtors Association Realtor Newswire weekly
Housing statistics in Northeast Wisconsin are certainly less dire than the national outlook. Local REALTOR® K.C. Maurer, former president of the REALTORS® Association of Northeast Wisconsin, says one reason for this is the housing sector in this part of the state has never been as volatile as the national market. He adds, "We still have a market because of housing affordability. Now’s a very good time to buy for buyers, and buyers realize that." The numbers tell the tale. Nationwide, the number of homes sold in July fell more than 25 percent versus a year earlier. However, home sales in Northeast Wisconsin actually increased by 14 percent during that same time span. Maurer notes that small gains and small losses over the years have kept the local housing market stable, reasoning, "If you take a look on the national market, the average sale price has plummeted. In a local market, the average sale price barely moved." Indeed, in the last year, the average home sale price fell 4 percent in Green Bay and remained almost the same in the Fox Valley. Sale prices in the Oshkosh and Fond du Lac areas actually rose over 2010 despite the struggling economy. According to Maurer, "I think we will continue to see a modest reduction in prices until the demand surpasses the supply." He concludes that the one sure bet right now is that interest rates will remain near record lows at least in the short term.
For more details on Northeastern Wisconsin real estate, talk to an agent in our three offices there: Fond du Lac, Oshkosh and Appleton or drop us a comment or question. To see Northeastern Wisconsin real estate for sale, search firstweber.com here.
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