July home sales rise 34.4% in Wisconsin; prices fall 5.9% - Milwaukee Journal Sentinel

The bad news: The median sale price of homes was down 5. The good news also comes with the caveat that this July's home sale figure had an easy comparison because tax incentives for homebuyers had just ended in June of last year and July 2010 home sales were low as a result. Bill Malkasian, president of the Wisconsin Realtors Association, said that while it's a psychological boost for the industry to see a big positive percentage number in July, the supply of Homes for Sale in the state remains too high. The tight credit is still the same, the appraisal issues are still the same," Malkasian said. All regions of the state had higher sales volume in July, with most up more than 30% over last year, the association said. The strongest growth in sales was in the north region of the state, in part because of an improving second-home market, said John Horning, chairman of the Realtors board. In such a buyer's market, even when there's an accepted offer it's sometimes tough to hold deals together because buyers may want more concessions and sellers think they've given enough. Getting to closing is where the work begins," Scharf-Ewert said. Malkasian said there does seem to be more "activity" in the Wisconsin residential Real Estate market. E-mail NewsletterGet today's business headlines delivered to your inbox Monday-Friday during the noon hour – or whenever there's big breaking news. Login or Register to manage all your newsletter preferences. Homes for Sale