Wisconsin existing home sales rose by significant margins in June as median prices increased at a modest pace. June home sales rose 8.1% compared to closed sales in June 2024, which is the first increase in June sales in four years. Compared to June 2024, the median price increased 4.6% to $340,000.
Evaluating the first half of 2025, home sales were essentially unchanged, rising just 0.1%, relative to the first six months of 2024; and the median price increased 6.7% to $320,000.
All indicators of inventory showed improvement in June compared to 12 months earlier. New statewide listings rose 5%, total listings rose 4.7% and months of available supply increased 8.1%. Still, this remains a seller’s market with just 4 months of supply. We would need total statewide listings to increase by 53% for the market to reach the six-month supply indicator of a balanced market.
“The Fed’s target for inflation should benefit from moderating home prices. Indeed, the single largest share of expenses in the Consumer Price Index (CPI) is owner-occupied shelter, which represents just over 26% of all expenses in the bundle of goods that the U.S. Bureau of Labor Statistics tracks when computing the CPI. Lower housing price appreciation will help move inflation closer to the Fed’s 2% target rate for core inflation, which will increase the likelihood of a rate cut later this year.”
Dave Clark, Professor Emeritus of Economics and WRA Consultant