Here are some stats on Wisconsin home sales in the first quarter of 2010.
(See the link to my blog for more information and links to where I got my statistics from)
Sales are up 16.8% in the First Quarter of 2010 VS 2009
Wisconsin is outperforming the Nationwide in terms of median sales price. Wisconsin is up .1% whereas Nationwide is down .7%
Waukesha County Rose both in number of sales from last year by 3.4% and in average sales price by 2.2%
These statistic all bode well for our market. It shows that prices have held, sales have increased despite the dip nationwide. This is despite the fact that there are a large amount of foreclosure sales in the market.
Federal tax credits and low-interest rates helped fuel the increases, especially in the starter home category. The big questions are:
How will the market respond after the tax credits expire?
Will movement in the lower end start helping the mid range sales activity?
How quickly could interest rate increases cut into the positive growth we have seen?
Regardless of the questions out there, this is positive news regarding the stability of our market and we should be encouraged that we are coming out of the bottom.