Industry News

Wisconsin real estate basks in record third-quarter sales

Realtors report more than 30,000 closed transactions

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The Wisconsin residential home sales market set an all-time high for the third quarter, according to the most recent analysis of statewide existing-home sales conducted by the Wisconsin Realtors Association. Sales of existing homes in Wisconsin during the third quarter totaled an estimated record 30,700 units, a 0.4 percent increase over the third-quarter sales from last year. "The strong real estate market can be attributed to a combination of low interest rates and an improving jobs market in the state," said WRA Chairman Kitty Jebwabny. "With 30-year fixed-rate mortgages averaging below 6 percent over the quarter, and with the statewide unemployment rate ranging from 4.7 percent-5 percent over the period, consumer demand remained solid in the state," she said. The figures on regional sales volume derived from Multiple Listing Service data for Wisconsin counties were up in all but one region. Growth rates for third quarter 2004 over third quarter 2003 were very strong in the Ce...