A record-breaking year for home sales in Wisconsin

GREEN BAY, WI – (WGBW & WISS) – The Wisconsin Housing and Economic Development Authority, along with Governor Tony Evers announced a record-breaking year with 240 percent more home sales in Wisconsin than the previous year. 

Additionally, the Wisconsin Realtors Association released its May 2024 home sales report, which shows an 11% increase in the number of homes sold. The report also shows the state’s median home price to $315,500, which is up almost 7% in the past year.

Locally, home sales fluctuate day to day, says Rochell Jordan of Dominion Title And Exchange.

“Some days you’re super busy and you can’t see straight. And other days it’s like, ‘Where’s everybody at?’” said Jordan. “I think it’s like that for everybody, lenders and agents involved. I think all together we’re noticing the difference in interest rates. Housing prices still really haven’t come down. Some have. Some haven’t. So, we’re just navigating the waters of that.”

While the real estate scene is a seller’s market right now, Jordan said the rate of inventory turnover varies throughout Northeast Wisconsin.

“Some houses are getting off the market within 24 hours as soon as they hit, and others aren’t,” Jordan said. “I don’t know. It just really depends on where you’re at in town and what the money looks like.”

Governor Evers named June 2024 Wisconsin Homeownership Month to coincide with National Homeownership Month.

See the full press release from WHEDA and Governor Evers below.

Press Release on home sales

Gov. Evers Announces WHEDA Reaches All-Time Record Home Purchases, Increasing Homeownership Opportunities for Families

All-time record hit as Wisconsin celebrates Wisconsin Homeownership Month

MADISON — Gov. Tony Evers, together with the Wisconsin Housing and Economic Development Authority (WHEDA), today announced that WHEDA has reached an all-time home purchase record in its 52-year history. According to WHEDA data, its single-family team has closed 240 percent more home purchases than the previous year. This announcement comes as Gov. Evers proclaimed June 2024 Wisconsin Homeownership Month in conjunction with National Homeownership Month. A copy of the governor’s proclamation is available here.

“Expanding access to reliable, affordable housing and homeownership opportunities is critical to recruiting and retaining our state workforce, maintaining our economic momentum, and building a state where folks want to stay, raise a family, and be successful,” said Gov. Evers. “WHEDA has been a vital partner in supporting and expanding access to housing across the state, and together, we will continue building on the progress we’ve made over the last year to help even more folks become proud homeowners.”

At the end of fiscal year 2023, WHEDA closed 1,121 home purchases valued at $190 million. With time remaining in the 2024 fiscal year, the single-family team has closed more than 2,700 home loans exceeding $558 million. The previous all-time high at WHEDA was in 2006 when mortgage lending reached $557.4 million.

“Homeownership plays a vital role in strengthening our families, community, and economy. Whether someone is buying their first home or striving to maintain and improve their home, WHEDA has the tools to support their homeownership goals,” said WHEDA CEO and Executive Director Elmer Moore Jr. “This is the first time in WHEDA’s 52 years that a governor has made a public proclamation of the importance of facilitating statewide affordable housing and enhancing opportunities for every individual to have a place to call home. We couldn’t be more excited and honored to have helped more than 141,800 families purchase homes, and we look forward to making this dream happen for many, many more.”

From those buying their first homes to those striving to maintain and improve their homes, WHEDA has the tools to support everyone’s homeownership goals through its network of lenders. More information on WHEDA’s single-family loan products can be found here.

An online version of this release is available here.