New report from WRA shows increases in new listings

MADISON, Wis. -- The buyer's market is on the upswing according to a recent report from the Wisconsin Realtors Association.

WRA said new listings have increased and the 30-year fixed-rate mortgage rate has fallen for a second straight month.

Here's what the report found

• New listings rebounded in July after a decline in June listings and home sales. July's bounce back helped grow existing home sales statewide. New listings rose 2.7% over the past 12 months, which led to 4.8% in sales over that same period. This pushed the median price up to $324,900, which is an 8.3% increase compared to July 2023.
• On a year-to-date, both sales and prices rose 7% compared to the first seven months of 2023. Total sales increased to 37,374 closed homes and the median price rose to $305,000.
• The north, northeast, and central regions year-to-date sales numbers grew from 10% to 12.6%.
• For the second straight month, the 30-year fixed-rate mortgage improved. After rising to an average of 7.06% in May, it fell to 6.92% in June and 6.85% in July.

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