Key points from the WRA on the Wisconsin Housing Report for December 2024.
Home Sales: Wisconsin’s existing home sales rebounded in February after modest growth in January. February home sales increased 7.0% compared to that same month in 2024.
Home Prices: The median home price increased to $304,900, which is a 10.9% increase over the last 12 months.
Inventory: In February, inventories tightened, which put strong pressure on prices. With total listings of just over 16,000 homes in February, listings would need to increase 113% to reach the six-month benchmark that signals a balanced market.
Affordability: High mortgage rates and high housing prices have created a persistent affordability problem. The average 30-year fixed mortgage rate was 6.84% in February, only slightly higher than the February 2024 average of 6.78%.
Chris DeVincentis, 2025 Chair of the Board of Directors, Wisconsin REALTORS® Association had this to say about the solid sales volume during off-peak season:
“We saw solid improvement in sales for December through February, which is the off-peak season for home sales in Wisconsin. In fact, sales are up about 7% compared to last winter, which is remarkable given the affordability challenges in the market.”
Source data provided by the WRA
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