Mixed Results for US Housing Market in April
Wisconsin's housing market is experiencing a lack of inventory, resulting in a 32.5% decline in existing home sales in April compared to the same month last year. The state would need to add 21,000 listings to get back to balanced conditions. The lack of inventory is even more pronounced in the $125,000 to $350,000 price range, which is generally considered affordable to younger families and first-time homebuyers. Median prices continue to rise, but some areas saw declines. Mortgage interest rates have declined slightly, but the pace of price increases seems to be slowing.