Home Sales, Prices Rise
Housing sales and prices continue to rebound in the Northwoods....joining a statewide trend.
The Wisconsin Realtors Association reports statewide, sales rose more than 11 percent for the first six months of 2013 compared to a year ago.
In the 18 county northern reporting region, the median price was down one percent from a year ago at $106,000, but sales grew seven percent to almost 2,700 units.
Economist David Clark from Marquette University says interest rates continue to be low. He says while prices are inching up, they still are relatively low compared to prior to the recession.
Clark says sellers are starting to re-enter the market...
"...sellers who perhaps had their homes listed at an earlier point and didn't get any movement on then are starting to re-list...."
Clark says foreclosures are also down about 37 percent compare to a year ago.
In the Northwoods, home sales were up in all counties with the exception of Forest, while prices were up in Iron, Langlade, and Price counties, off in Forest and Oneida counties and unchanged in Lincoln and Vilas counties.