Wisconsin housing unit sales fell nearly 35% in 2022 as sales drop across the nation

Published: Jan. 20, 2023 at 7:17 PM CST
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SCHOFIELD, Wis. (WSAW) - ‘Tis the season when home sales traditionally slow down.

“We always see things slow down a little bit in the winter months,” says Lucca Tonelli, Realtor, Coldwell Banker Action. “And then generally pick up in the late spring.”

According to the Wisconsin Realtors Association, unit sales in 2022 fell nearly 35% compared to 2021. In the past quarter alone, sales were down 30.5% compared to the same quarter in 2021.

“We had a lot of people moving in and out of state because we had remote workers, and interest rates were really low,” says Cody Hoelscher, Realtor, Coldwell Banker Action. “So things are a little bit different, and that’s part of why the demand has kind of started to even out.”

Given the increased interest rates and lower inventory, it’s created a heated market amongst buyers.

“Not a lot of options, still competitive,” says Austin Solomon, Team Leader, Coldwell Banker Action. “But it kind of limits how many people can move up and trade up. And with interest rates going up, it makes that a little less attractive.”

But for the time being, they’ll continue to let people know what the best decision is.

“We’re always looking to educate our buyers and let them know that the options that they have available,” says Tonelli.

“I still think there’s people that are looking to move into the area, people that are looking to buy a new house or get something a little bit bigger,” says Solomon. “So I do still think there’s going to be quite a few homes to sell and a lot of people to help.”