September Housing Stats

Wisconsin home sales were very strong in September, continuing the robust pace that has characterized the year according to the most recent housing report from the Wisconsin REALTORS® Association (WRA). Sales of existing homes were up 15.8 percent in September compared to that same month in 2012 — representing a 13.6 percent increase through the first nine months of the year. Median prices posted similar gains, increasing a very solid 6.7 percent in September relative to September 2012 — an increase of 7.8 percent year to date compared to the first nine months of 2012. Home sales have now been up for 27 straight months and median prices have consistently grown in all but one of the past 19 months.

All regions saw their existing home sales grow by double-digit margins in September as compared to September 2012. The North region which includes Sawyer County grew just over 19 percent for the period.

Housing remains affordable with the Wisconsin Housing Affordability Index standing at 222 in September, down from 257 a year ago. The index measures the percent of the median-priced home that a buyer earning the estimated median family income can afford to buy. It assumes that the buyer is borrowing at current rates for a 30-year fixed-rate mortgage with a 20 percent down payment. “Affordability in Wisconsin is down from last year, but it compares favorably to the national index,” Theo said. The U.S. Housing Affordability Index fell to 154.5 in August. “Wisconsin housing continues to be a good value and with solid appreciation rates over the last year, it is once again a significant way to accumulate household wealth,” said Theo.