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State’s home prices up, sales decline in August

MILWAUKEE (AP) — Sales of existing homes in Wisconsin were on the decline in August.

The Wisconsin Realtors Association reports sales dropped 5.7 percent in August compared to a year earlier.

Association board chairman Steve Lane said tighter inventory of properties in the state’s metro areas could have slowed sales there.

Lane tells the Journal Sentinel that even though housing remains affordable in Wisconsin, some potential buyers may have gotten priced out of the market in the past year.

While sales declined in August, the median price for an existing home was up 3.3 percent to $157,000.

Information from: Milwaukee Journal Sentinel, http://www.jsonline.com

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