Homes sales in Wisconsin continue their upward trend in October, for the fourth straight month, according to a report by the Wisconsin Realtors Association (WRA). Existing homes sales increased 13.5 percent on October 2011 compared to October 2010. Home sales in the third quarter are well above depressed levels in 2010.
The Federal Tax Rebate Program of 2010 had a depressing effect on home sales in the first half of 2010, but sales in the second half of this year look much stronger by comparison.
The median price for a home in the state dropped, however. The median price for a home in Wisconsin was $129,000 in October, down 7.8 percent from October 2010.
The report also indicated that the affordability of housing in the state is high right now, with the median family income able to purchase 243 percent of the median priced home in the state.
Low interest rates, hovering near 4.7 percent for a 30-year fixed-rate conventional home mortgage, along with low housing prices are driving the sales.
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