Industry News

Wisconsin posts record real estate sales

Home sales, prices up 9% in 4th quarter

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The Wisconsin residential home sales market set an all-time record in the fourth quarter of 2004, making last year the strongest housing market in state history, the Wisconsin Realtors Association reported. Statewide, home sales increased 8.8 percent over the level established in the fourth quarter of 2003, setting a Wisconsin fourth-quarter record of 32,825 home sales, and a record of 123,900 sales for the year. Nationally, home sales were up by 7.3 percent for the quarter, and the Midwest region saw home sales rise at 5 percent as compared to the fourth quarter of 2003. Kitty Jebwabny, WRA chairwoman, said, "Key economic conditions were in place through most of 2004." The average statewide unemployment rate for the quarter was at 4.8 percent and 30-year fixed rate mortgages averaged 5.7 percent for the quarter. Jebwabny also noted that job creation in the state has been solid for the last two quarters, with about 52,000 additional jobs in the state in fourth-quarter 2004 as comp...