State home sales up 18.3% in January

The number of homes sold increased 18.3 percent in January, year-over-year, according to the latest report from the Wisconsin Realtors Association (WRA). That continues a 19-month trend of double digit home sales growth in the state.

“To see existing home sales continue the strong pace established in 2012 bodes well for the spring when the market heats up,”said Renny Diedrich, chairman of the WRA board of directors.

Home sale prices wre also up in January. The median home price in the state increased 3.4 percent in January, compared to January of 2012, to $123,000. Median prices have grown in 10 of the last 11 months, year over year. Median prices rose just over 1 percent for all of 2012, but the median price appreciation over the last two months has been well above that pace.

“We have seen fairly consistent upward movements in median prices since last spring, and that trend continues as we move into 2013,” said WRA president and chief executive officer Michael Theo.

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