For three of the last four months, home sales in the Milwaukee metropolitan area were down, despite this being the height of the selling season.
In August, home sales were down 1.6 percent from August 2017, with 2,119 homes sold last month. The slowdown continues to be attributed to a lack of affordable inventory, which has been the case all year, and last year.
There are many first time homebuyers and empty nesters in the market looking to buy homes, but few listings under $300,000. Some brokers are even reporting a limited supply of homes between $300,000 and $400,000, said Mike Ruzicka with the Greater Milwaukee Association of Realtors.
In the four-county metropolitan area, homes under $300,000 accounted for 71 percent of the home sold in August.
Read more in BizTimes Milwaukee.