Milwaukee housing market recovers more ground

Milwaukee County is leading the region out of the housing slump, posting a fifth consecutive month of higher sales than a year ago, according to new housing statistics released by Metro MLS Inc.

The metropolitan Milwaukee region posted its third consecutive month of positive sales activity with a 3.3-percent gain.

  • Milwaukee County accounted for a large portion of the regional gain, registering a 11.5-percent increase for August 2009 over August 2008.
    Reduced prices leading to higher affordability has played a large role in getting buyers back into the market, but the MLS cited three other significant factors: 1) The $8,000 home buyer tax credit; 2) Historically low interest rates; and 3) Plentiful supply of homes to choose from.
  • Waukesha County has seen some pretty dramatic swings this summer. After a 12.2-percent decrease in June, the county came back with a solid 15.7-percent gain in July, but fell 7.8 percent in August.
  • Washington County went up slightly by 1.4 percent in August, after decreasing 0.7 percent in July and increasing 12.8 percent in June.
  • Ozaukee County was down 15.4 percent in August, after showing a 63.9-percent gain in June and a decrease of 4.9 percent in July.
  • Racine County registered a gain of 15.7 percent in August, after a 1.3-percent increase in July.
  • Kenosha County recorded a 12.7 decrease in August.
  • Walworth County was off 1.9 percent in August after a 29.2-percent decrease in July.

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