Market Conditions Show Signs of Improvement for Wisconsin Homebuyers

Monday, December 4th, 2023 -- 1:00 PM

(Jeff Bollier, Green Bay Press-Gazette) Market conditions have shown signs of improvement for Wisconsin homebuyers as the state’s busy season ends.

According to Jeff Bollier with the Green Bay Press-Gazette, winter generally brings a slowdown in housing markets, but buyers who brave the cold temps should find more favorable conditions such as more homes for sale and cheaper financing.

National mortgage interest rates in November have dropped after reaching a 23-year high in late October. Buyers also haven’t had to offer quite as much over the asking price in order to have a chance at homes.

Coupled together, they amount to improving affordability, said Victoria Imhoff, a real estate agent with Century 21 Ace Realty in Appleton. Wisconsin housing market data for October shows existing home sales continued to recover and inventory improved, according to the Wisconsin Realtors Association.

Existing home sales dropped by 7.2% in October, ending a run of double-digit percentage declines seen for much of 2023. Some key counties even logged increases in existing home sales last month.

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