Realtors call November home sales robustIt's been a robust November for Wisconsin's real estate market.
By: By Patty Murray, Wisconsin Public Radio, Superior Telegram
It's been a robust November for Wisconsin's real estate market. That's according to the head of the state's Realtors association.
Wisconsin's realtors helped sell nearly 25-percent more homes this November compared to last year.
The president and CEO of the Wisconsin Realtors Association says the median price dipped a bit, down two-percent to roughly $130,000. Mike Theo says that means houses are more affordable to buyers.
"What I'm hearing from most realtors is we're starting to see multiple offers on property," he said. "So the demand is there helping to feed those sales that were up almost 25 percent over November of last year. Which is the 17th straight month we've seen sales increase. Year to date our sales are up over 21-percent from a year ago."
Theo says sales were especially strong in central Wisconsin where they jumped by 50-percent. He says all other regions were up as well.
"All regions of the state saw double digit increases in sales," Theo said. "It really shows the diversity of the strength of the marketplace in Wisconsin. It's a good basis for moving forward."
Theo says he hopes Congress can avoid hurtling over the so called "fiscal cliff," and avoid what he calls an "exaggerated reaction" among would be home buyers who might become psychologically inclined to delay purchases.