Housing Inventory Shortage Continues

Posted: 05.24.22

Eau Claire, WI - Wisconsin home inventory continues to decline, and median home prices have risen 13% compared to last April. Average days on the market fell 18.8% over the last year, putting it at just 69 days in April 2022.

  • April 2022 Wisconsin home sales were down 14.8% compared to April of last year.
  • New listings have dropped by 12.7% over the last 12 months. 
  • Mortgage rates have increased 62.7% from last year.

Western Wisconsin has had a significant drop in home sales, with Eau Claire County seeing  16% less inventory compared to April 2021. 

  • Eau Claire County’s median home price reached $289,000 in April 2022, a 23% jump from April 2021. 
  • April Western Wisconsin median home price rose 15.2% in the last year. 
  • Average days on the market in the Western region were down an average of 23.3% compared to April 2021.

Even though dropping inventory is an issue across the state, it will likely become a less severe problem due to mortgage rates rising, according to Scott Rohde, President of REALTORS® Association of Northwestern Wisconsin. “We’ve seen a significant inventory shortage over the last year, but with mortgage rates continuing to rise there will likely be less demand down the road.”

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