State housing sales at highest level since 2006

Year-to-date home sales are at the highest level since 2006, before the Great Recession, according to the latest report from the Wisconsin Realtors Association.

There were 9,277 homes sold in Wisconsin in June, a 17.6 percent increase from June of 2014, and for the first six months of the year there were 35,828 homes sold in the state, a 12.3 percent increase from the first half of 2014.

“This is the best June sales volume we’ve seen in 11 years, well before the recession began,” said Dan Kruse, WRA board chairman.

Home sale prices are also on the rise in the state. The median sales price in the state rose 6.3 percent in June to $169,000, and year-to-date the meidan home sales price in the state is up 6.9 percent to $155,000.

“Prices are up $10,000 over the last 12 months, and they have been generally rising on aqn auual basis for more than three years,” said WRA president and CEO Michael Theo.

After the recession began at the end of 2007, state housing prices didn’t bottom out until 2012.

“It took several years to deal with the excess inventory created by foreclosures, but we are now at pre-recession levels on foreclosures in the state.”

In the eight county southeastern Wisconsin area June sales were up 20.2 percent to 3,314 and home sale median prices were up 7.1 percent to $185,000, according to WRA. Year-to-date, home sales in the region are up 11.4 percent to 12,898, and median home sale prices are up 9.2 percent to $167,100.

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