July report: Home sales fall, median price rises

In the July 2021 Wisconsin housing report from the Wisconsin Realtors Association, home sales fell 14.2% relative to the same period last year, while the statewide median home price rose to $250,000, up 10.7% from a year ago. The report also showed that every region in the state experienced a decline in sales over the last 12 months, with the strongest reductions in the central region, down 24.9%. The housing market continues to be hampered by low inventory levels, with just 3.3 months of available supply in the market. The benchmark for a balanced housing market is six months of supply.