Home sales in January were down 3.2 percent from a year earlier in the 4-county metropolitan Milwaukee real estate market, according to the latest report from the Greater Milwaukee Association of Realtors. There were 846 homes sold in the area in January compared to 874 a year earlier.
“The decrease in sales is not an unusual development, because the market often sees a slowdown in sales in the winter months,” said GMAR president Mike Ruzicka. “And, the 2013-14 winter has proven to be harsh for excited buyers to visit many homes or for brokers to host open houses.”
January sales in the area were up 11.3 percent compared to January of 2012.
The inventory level (the time it would take to sell all of the homes on the market) for January was at 6-months, slightly below December’s 6.1-month level, the GMAR report said.
“The market conditions were very balanced in January, despite several factors that would seem to push the market into a more aggressive direction,” Ruzicka said. “ Interest rates, home prices, availability of listings, and active buyers are situated to fuel a robust market, which will probably arrive with warmer weather.”
