May Housing Sale Numbers Were Strongest In Years

Housing sales for the month of May in Wisconsin were the strongest recorded by the Wisconsin Realtors Association in nine years.

Existing home sales were up 7.8 percent in May compared to the previous year. Michael Theo with the WRA said it was one of the best for May sales on record since 2006.

“We’re having a very strong May and a very strong year so far, for the five months so far in 2015,” said Theo.

Theo said what may be fueling a “strong marketplace” is good interest rates and a healthy — albeit tightening — inventory. Another factor in the state of the marketplace, Theo noted, is that there is some concern that interest rates may go up by the end of the year.

Meanwhile, home prices also continue to grow. The median price of a home in May was $160,000 — a 6.7 percent increase compared to last year.

Theo said all regions the WRA monitors saw increased sales, with the biggest gains in the northern and central parts of the state.