housing market

Northwoods Housing Market Above State Average

Aug 19, 2015

 

   Wisconsin’s hot housing market is setting a trend for the rest of the year with existing home sales around the state seeing a drastic increase. Wisconsin Realtors Association economist David Clark says every region around the state saw an increase in sales, but the Northwoods came out on top.

 “…Sales volume is actually stronger in the northern region for the first seven months than the statewide average. The state average was 13.7 percent; the north was up 17.4 percent.”

Northern Wisconsin Home Sales Double State Average

Jun 23, 2015
flickr.com

Housing sales are up for the third straight month in Wisconsin--and in Northern Wisconsin in particular. According to analysis by the Wisconsin Realtors Association, home sales were up nearly 8% state-wide in May, and median prices of homes rose nearly 7%. Sales in Northern Wisconsin were nearly double the state average at 15%.

http://en.wikipedia.org/wiki/Portal:Home_improvement/Tools#/media/File:Garden_hose.jpg

Rhinelander is gearing up for home improvement season with the Hodag Home show this weekend.

Rhinelander Chamber Director Dana DeMet says it’s a chance to consult with experts and see a variety of product options. 

“Anybody who owns a home here in the Northwoods knows that there’s a very short season in which we can get a lot of our projects done.  So we like to schedule this near the end of the winter season, so that people can get on their calendar for a lot of these projects that are coming up.”

en.wikipedia.org

Wisconsin Department of Revenue Chief Economist John Koskinen  says northern Wisconsin property values took a steep hit during the recession, but recent data appears to show a turnaround.

Koskinen was one of the speakers during the Northern Wisconsin Economic Development Summit in Minocqua last week.

He says a recent trend showed housing starts beginning to return, and a small rebound in property values..

Bill McChesney

Home prices went up again last month, but the number of sales remained flat. 

Wisconsin Realtors Association reports median sale prices are up seven and a half percent so far this year...compared to 2012.  Economist David Clark says a high market inventory should keep prices from skyrocketing.

“I think those increases will moderate as we go forward.  And that ought to keep housing relatively affordable.”