January home sales down 34% from a year ago

Wisconsin home sales declined nearly 34% in January from the same period a year ago, according to a report from the Wisconsin Realtors Association.

A total of 3,114 homes were sold in the state in January compared to 4,702 homes sold in January 2022. Wisconsin had 12,322 active listings in January, down 16.2% from the prior January’s total of 14,709 listings. Additionally, the median home price climbed 8.5% percent over the year, from $230,050 to $250,00 last month.

The fourth quarter of 2022 was when the downward trend in home sales began. Total sales over the first nine months of 2022 were 8.8% lower compared to the same period of 2021. However, by the fourth quarter of 2022, sales had fallen 30.1% from the fourth quarter of 2021.