Glimmer of Hope Seen in Home Sales Milwaukee-Area Prices Down 11.8% in Year's First Half, but Number of Houses Sold Up 3.6% in June

Summary

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Home prices in the Milwaukee area continued to fall in the first half of the year, but an uptick in the number of sales in June provided a glimmer of optimism for the local residential real estate market.

The average price of homes sold by Realtors in Milwaukee, Ozaukee, Washington and Waukesha counties from January through June was $219,373, an 11.8% drop from the average $248,740 in the first half of 2008, according to a report by Metro MLS Inc. The average sale price fell in all four counties.

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Extract

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Glimmer of Hope Seen in Home Sales Milwaukee-Area Prices Down 11.8% in Year's First Half, but Number of Houses Sold Up 3.6% in June

However, the report also said that home sales rose 3.6% in June compared with June of last year. It's the first month since September in which home sales have increased...

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