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Home sales rise in February


UNDATED (WSAU) – Wisconsin home sales rose in February for the eighth month in a row. The state’s Realtors Association said today that over 3,100 existing houses were sold throughout Wisconsin in February. That’s almost a 16-percent increase from the same month a year ago.

Meanwhile, the average price kept falling. It was $115,000 last month, about $2,000 less than the year before – even though the supply of available homes has fallen significantly over the past eight months.

The Realtors Association said there were about 53,000 unsold houses statewide last month – down from 72,000 last July.

Rob Keefe, who chairs the Realtors’ board, said it was encouraging to see double-digit sales increases over the past five months without the distortion of a federal incentive program. He gave credit to low interest rates which have resulted in 30-year fixed mortgages going for under four-percent to qualified home-buyers. Keefe says he hopes the trend will continue over the next six months, which is the prime home-buying season in the Badger State.

On the Web: February home sales in Wisconsin