Wisconsin Housing Market Report
Sunday, April 26th, 2015 -- 9:23 AM
The Wisconsin housing market grew substantially in March, with both home sales and median prices increasing at a robust pace over the past year, according to the most recent analysis of the statewide housing market by the Wisconsin REALTORS? Association.Home sales increased 16.1 percent in March 2015 over March 2014, and median prices rose 8.8 percent to $149,000 over that same period. For the first quarter of 2015, existing home sales were 6.7 percent ahead of the first three months of 2014, with median prices in the first quarter up 7.6 percent compared to the first quarter last year.
Home affordability remains high, at least for now. The Wisconsin Housing Affordability Index was at 245 in March, which was essentially unchanged from last year. The index shows the portion of a median priced home that a household with a median family income can afford to buy, assuming 20 percent down on a 30-year mortgage financed at current rates.
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