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Residential property values up 2.5% in Wisconsin over past year

MADISON, WI (WTAQ) - The value of residential property in Wisconsin rose by two-and-a-half-percent last year, ending a five-year stretch of losses dating back to the national housing market collapse.

Homes and other residences gained more than $8 billion in equalized value between January 1st, 2013, and January 1st of this year.

The Wisconsin Department of Revenue released its report Friday.

Increasing home sales prices were the main driver of the improving.

Residential property values in Milwaukee were down by 2 percent. Commercial property and manufacturing businesses showed gains during the same period statewide.

(Story courtesy of Wheeler News Service)