Nearly 35 percent of the homes that sold in the Milwaukee area last year were in the $100,000-to-$200,000 range.
Sean Ryan
Reporter- The Business Journal
The Milwaukee area’s housing sales were 24.6 percent higher in 2012 compared with the previous year, generating a new concern that there are not enough houses on the market, according to the Greater Milwaukee Association of Realtors.
The year closed with a 23.1 percent increase in sales in the fourth quarter, bringing the total number of 2012 sales to 16,579 in Milwaukee, Ozaukee, Washington and Waukesha counties. Home prices declined in most Milwaukee County communities.
The year ended with 9,798 houses listed for sale, an inventory that would take 8.7 months to sell. That compares with the typical listing of 11,000 to 12,000 listings on the market in December. Such conditions usually generate price increases, but the market hasn’t see much upward momentum, according to the association.
Sean Ryan reports on real estate, construction and public transit in southeast Wisconsin
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