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Reports for the last year have continued to show that the housing market is back, and the 2013 February Home Sales Report released today by the Wisconsin REALTORS® Association is no different. February marked the 20th straight month of double-digit growth in sales of existing homes. Sales were up 11.7% compared to February 2012 and median home prices grew to $122,000, a 6.1% rate of growth compared to last year.
Shorewest has offices in both the Southeast and South Central regions of the state, were sales were even more robust and up 15.5% and 11.9% respectively over February 2012. Despite the seasonality of home buying and selling, where most home are sold between April and September, it has been a strong housing market throughout the winter months. Comparing this December through February to the year previous, home sales increased 14.5%.
The report also details the inventory shortage facing home buyers across the United States. Though the inventory levels increased slightly compared to January, they are 13.1% below the levels of February 2012. “We’ve seen a consistent pattern of declining inventories, and the state now has 8.6 months of supply,” noted WRA president and CEO Michael Theo. He also remarked that most of the metropolitan counties have inventory levels below that, between five and seven months of supply.If you’re looking to read the full report, visit the WRA website.
These promising numbers show the housing market’s recovery, and with spring around the corner, you may be thinking about buying or selling. Contact a Shorewest agent near you for more information or visit us at the Home and Garden Show March 20-24.
Tags: buying a home, Home Buying, Home Sales, Home Selling, real estate market, real estate news, real estate trends, shorewest, Shorewest Realtors
Categories: Home Buying, Home Selling, Real Estate News
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