The Wisconsin REALTORS Association (WRA) on Friday released its May Wisconsin Real Estate Report, revealing home sales fell for a third straight month.
Report highlights include:
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The pace of home sale decline moderated in May, with closed sales falling just 2.1% over the past 12 months, which is well below the annual slide in home sales seen in recent months;
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Year to date, home sales fell 2.7% compared to the first five months of 2024, and the median price rose 6.8% to $315,000 over that same period;
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The average 30-year fixed mortgage rate fell 24 basis points to 6.82% over the last 12 months;
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New statewide listings fell 1.5% in May compared to that same month last year, but total listings rose 8.5% to just over 22,000 homes on the market;
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Wisconsin’s months of available supply increased 8.3% to 3.9 months of supply;
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Metropolitan counties with large cities as well as micropolitan counties with smaller cities and towns remained strong seller’s markets, with just 3.5 and 4.1 months of supply, respectively; and
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Rural counties improved to 5.7 months of supply in May, which is close to the six-month benchmark, indicating a balanced market.
Real the full report here.
