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Nearly 12% fewer homes sold in Wisconsin in April

MADISON, WI (WTAQ) - Wisconsin Realtors sold almost 12 percent fewer homes in April than at the same time last year.  

The state Realtors Association blamed the drop on higher selling prices and mortgage rates -- plus the winter that wouldn't let go. That was especially true in the far north, which had two snowstorms of up to a foot-and-a-half each.  

All regions of Wisconsin reported smaller home sales last month. Just over 5,300 existing homes were sold by Realtors statewide, down from about 6,000 in the same month of 2013.  

Sellers did get more. The median sales price rose 1.4 percent to $139,900.  

Realtors association chairman Steve Lane said it's important to remember that there's a 6 to 8 week lag between the time an offer is accepted, and when the transaction is finalized.  

Metropolitan counties had a 13 percent drop in home sales last month, compared to seven percent in rural areas. Lane said one possible reason is a tighter supply in the more populated regions.  

(Story courtesy of Wheeler News Service)