After one of the worst housing markets in history, t looks liked things have finally began to turn around.
The Wisconsin Realtors Association’s January numbers show there have been 19 straight months of double digit growth in existing home sales across the state. Some of the biggest improvement comes from counties in our area.
Real estate agents say the market is better now than it has been in nearly half a decade. Langlade, Lincoln and Oneida County had some of the highest percent change in home sales from January of last year to January of this year.
Langlade had an increase of just more than 42 percent, while Lincoln County had a jump of nearly 87 percent. Oneida County led that group with a jump of 93 percent change from last January.
One Antigo real estate broker says the median home price has also changed greatly, and that shows what kinds of sales are being made.
Helen Wanca, Broker and Owner of Advantage Realty in Antigo says the recent numbers show a increase in home sales and buyers who are interested.
“Last year for January, the average sale price was $37,000. This year it was $74,900. That’s a tremendous increase, either there were no sales last year or we sold an awful lot of foreclosures. We are seeing more true sales come through rather than just foreclosed sales.”
The foreclosures she says were reason for the low average price. She also says that another reason for the jump in sales is the low interest rates buyers can now take advantage of.
Depending on your credit, most buyers can get an interest rate as low as 3.4 percent, the lowest it's been in years.
These latest numbers are no where near being perfect, but they are much higher than they were 4-5 years ago. Another sign the housing market is one the way back up.
As a state, home sale numbers are up just over 18 percent from January of 2012.