Скачать или смотреть Wisconsin Housing Report | March 2024 [Source: Wisconsin REALTORS® Association]

Strong Demand Increases Home Sales and Prices in First Quarter
FULL REPORT: https://www.wra.org/HSRMar2023/

TALKING POINTS

As the first quarter of 2024 ends, both existing home sales and median prices rose by solid margins compared to a year earlier. This reflects robust demand conditions even as supply remains tight.

March existing home sales rose 3.2% compared to March 2023, and the median price rose 10.1% to $299,900 over that same 12-month period. On a year-to-date basis, existing home sales increased 5.6% in the first quarter relative to Q1 2023, and the median price rose 6.7% to $280,000 over that same period.
Supply conditions remain very tight, with just 2.9 months of available supply in March. This is well below the six-month benchmark that signals a balanced market. Still, months of inventory improved in every region of the state due in part to more listings.

New listings were up 4% statewide between March 2023 and March 2024, and total listings grew 10.6% over that same 12-month period.

Mortgage rates rose throughout the first quarter. The average 30-year fixed mortgage rate rose to 6.82% in March, up from 6.64% in January. It is also higher than the March 2023 rate of 6.54%.

Higher prices and higher mortgage rates have hurt affordability. The Wisconsin Housing Affordability Index shows the percent of the median-priced home that a potential buyer with median family income qualifies to purchase, assuming a 20% downpayment with the remaining balance financed with a 30-year fixed-rate mortgage at current rates. The index fell 10.6% over the past 12 months to 126. This puts affordability close to its lowest point in nearly 15 years, recorded last year when it fell to 123 in August and September.