WisBusiness: State home sales slump

A Wisconsin real estate group is blaming nasty winter weather for declining home sales that dropped by 24.1 percent in the first quarter compared to the same period last year. Worries over a slow economy share some of the responsibility, analysts say.

The median sales price in the state fell 3.8 percent to $154,000 for the quarter, according to figures from the Wisconsin REALTORS® Association (WRA).

Michael Spranger, chairman of the WRA, said he was expecting weak numbers. “People don’t like to look at houses when the weather is bad, and the weather was definitely bad in January and February this year,” he noted.

See release: http://www.wisbusiness.com/index.iml?Article=125950