October sales of existing homes in Wisconsin rose, but a shortage of properties on the market in the state's metro areas continues to temper sales this year and is pushing up prices, industry professionals said.
A report Monday by the Wisconsin Realtors Association shows state home sales last month were up 4.9% from October 2016, to 7,290 from 6,952. But through the first 10 months of 2017, overall sales in Wisconsin had increased only 1.1%, to 70,841 from 70,101 in 2016.
The median price on sales in October was 6.1% higher—to $175,000 from $165,000—than in the same month last year. Through October, the median price for sales in Wisconsin was $174,000, compared with $165,000 in the same period in 2016, an increase of 5.5%.
Read more in the Milwaukee Journal Sentinel.