Key points from the WRA on the Wisconsin Housing Report for January 2025.
Home Sales: Existing home sales in January 2025 only rose by 0.6% compared to their January 2024 levels.
Home Prices: The median price increased 10.6% to $293,000 in January 2025.
Inventory: Weak inventory continued to characterize the Wisconsin existing home market, and even January listings improved compared to their January 2024 levels. New listings rose 8.7% and total listings were up 5.9% over the past 12 months.
Affordability: The average 30-year fixed mortgage rate rose to 6.96% this January. The combination of higher mortgage rates and higher median prices more than offset the modest 0.4% estimated increase in the state median family income, which led to a lower statewide affordability.
Tom Larson, President & CEO, Wisconsin REALTORS® Association had this to say about hopeful trends in home sales:
“We cannot draw too many conclusions about 2025 home sales based on January sales volume since we only sell about 5% of annual sales in a typical January. However, it is good to see a modest increase in home sales to start 2025 even though affordability fell 12% compared to January 2024. Hopefully, mortgage rates begin to fall, improving affordability and increasing sales as we move into the spring and summer seasons.”
Source data provided by the WRA
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