Residential real estate sales in southeastern were down 26.4 percent in January and 21.8 percent in February, compared with the previous year, according to the Greater Milwaukee Association of Realtors (GMAR).
Residential real estate listings were also down for the seventh straight month. Listings were down in 10.7 percent in January, from 2,862 to 2,556. Last year was the second highest listing year ever in southeastern Wisconsin.
Washington County had the biggest sales drop in February, falling 26.1 percent (from 92 units sold to 68) compared to February of 2007. In Milwaukee County February sales were down 24.0 percent (from 626 units to 476) compared to February of 2007.
Every county is southeastern Wisconsin saw fewer sales this February. The smallest decrease was in Racine County, which fell 2.2 percent, (from 138 units sold to 135), compared to February of 2007.
Interest rates are in the 6.24 percent (30-year fixed) and 5.72 percent (15-year fixed) range, the GMAR reports.
