May home sales in Wisconsin fell 2.1% over the year, marking the third month in a row of declining sales. But it was a smaller decrease than the two previous months.
The Wisconsin Realtors Association’s latest report highlights this slowdown in the rate of decline, noting March sales had fallen 8.6% over the year and April sales had fallen 9%.
Last month, the state had 6,607 home sales, down from 6,752 in May 2024.
As the state enters this year’s peak period for home sales, WRA Board of Directors Chair Chris DeVincentis points to “solid improvement” in inventory levels over the past year. Wisconsin had 22,033 total listings last month — an 8.5% increase from the previous May’s total of 20,309 listings.
“More housing inventory will help moderate price appreciation and will lead to more buying opportunities,” he said in the report.
Still, the number of new listings fell 1.5% over the 12-month period ending in May.
But WRA also reports rural counties saw an improvement in inventory levels last month, rising to 5.7 months of supply — close to the six-month benchmark the group says indicates a balanced market. Metropolitan counties with large cities, as well as “micropolitan” counties with smaller cities and towns, remained “strong seller’s markets” with 3.5 months and 4.1 months of supply, respectively.
Meanwhile, state home prices continue to rise. WRA reports the state’s median home price increased 4.3% over the year, reaching $330,000 in May. But at the same time, Wisconsin’s median family income rose 7%, WRA President and CEO Tom Larson noted.
“This increase, combined with a slight improvement in the 30-year mortgage rate and moderately lower price appreciation over the last year, led to a slight improvement in affordability,” he said. “Hopefully these trends continue and will help firsttime buyers achieve the goal of homeownership.”
The report shows the average 30-year fixed mortgage rate dipped to 6.82% most recently.
And while the group’s affordability rating for the state rose 5.1% over the past 12 months, the report says that’s still historically low. Its Wisconsin Housing Affordability Index measures the percentage of the median-priced home that a buyer with median family income qualifies to purchase, assuming a 20% down payment and a typical 30-year fixed mortgage.
That index value stood at 124 in May 2025, not much higher than the recent historic low of 116 from June 2024. WRA has been tracking this measure since 2009.
See the report.
