RHINELANDER, WI (WXPR) - The Northwoods housing market has joined the rest of the state to show a rebound, evidenced from December's numbers and from 2012.
The Wisconsin Realtors Association reported sales of existing homes in 2012 were 20 percent higher than 2011 levels and the median price rose one percent to $133,000.
Economist David Clark says the lowest interest rates on record are helping to spur sales. Across the Northwoods, the median price from December of 2011 to last month jumped 21 percent in Vilas county last year to $200,000, Oneida rose 5 percent to $154,000. Price figures for other counties were not available.
Sales for Oneida county rose 32 percent compared to a year ago, Vilas was nearly unchanged. Other counties statistics were not available.
Clark says with much of the idle inventory disappearing, it appears the market is beginning to recover.