State home sales up but prices down in October

For the fourth consecutive month home sales in Wisconsin outpaced last year’s sales, but median prices continue to fall, according to the Wisconsin Realtors Association.

Existing home sales were up 13.5 percent in October, compared to October of 2010, and median prices fell 7.8 percent to $129,000.

"It’s clear that prices have moderated, and that’s not surprising given the high inventory levels in the state," said WRA president and CEO MIchael Theo. "Homebuyers are waiting for good news on the economy before they jump back into this market, and so far the economic news has been mixed. Although we’ve seen some promising signs in the manufacturing sector…job growth needs to be more widespread for home buying to really pick up."

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