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Substantial growth in WI home sales

April 21st, 2015

MADISON, WI – Wisconsin Realtors said the state’s housing market grew “substantially” last month.

The Realtors Association said Monday that its members sold 16 percent more existing houses in March than in the same month the year before. Just over 5,400 houses were purchased, up from almost 4,700 at the same time in 2014.

The median re-sale price was $149,000 last month, almost 9 percent more than the $137,000 median the previous March.

Realtors Association CEO Mike Theo said there’s been a “consistent upward movement” in home prices this year, and March was the strongest so far.

The group said more prospective buyers had jobs last month, as the state’s unemployment rate kept falling. Also, interest rates continue to be near historic lows.

The national average rate for a 30-year-old fixed mortgage last month was 3.77 percent.