WAUSAU, WI (WSAU-WAOW) – The Wisconsin Realtor Association’s monthly real estate report, released on Thursday, contains some bad news for Marathon County home buyers.
According to the report, while housing prices are growing across the state, the increase is much greater in Marathon County. The median property price in the state is up 10.6% from this time last year. However, in Marathon County, the median price has risen by more than 17%, resulting in a decrease in sales in the area by more than 16%.
Max Rea, President of the Central Wisconsin Board of Realtors spoke about the data in the report saying, “First-time home buyers are having a harder time not only finding a home because we have less inventory, but with interest rates higher, the home affordability is lower. This trend has been going on about four years, so we’ve had low inventory for three to four years.”
Rea adds that he expects the current pattern of increased prices and reduced sales to continue for the foreseeable future.
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