Existing home sales fell 2.4% in September relative to September 2025, and the median home price rose just 1.5% to $342,000 over that same period, according to the latest report from the Wisconsin Realtors Association.
The average monthly 30-year fixed mortgage rate rose to 6.86% in September 2026, which is an increase of 51 basis points over the last 12 months. This is the highest mortgage rate since January 2025 when it reached 6.96%.
Year-to-date home sales rose 2.8% compared to the first nine months of 2025, and the statewide median price was up 6% to $346,500 over that same nine-month time span.
Housing affordability fell 5.5% over the past 12 months. Although the annualized change in median home prices only increased 1.5% in September, which is the slowest annual increase since June 2014, the combination of flat income growth and rising mortgage rates led to the erosion of housing affordability.
“Mortgage rates have reached their highest level since January 2025. If these trends continue, both buyers and sellers will be affected. Specifically, lower affordability obviously hurts buyers, and higher rates also keep potential sellers from listing their homes because they don’t want to give up the very favorable rates locked in over the last six years,” said Realtors Association CEO Tom Larson.
