Wisconsin home sales fell 2.8% over the year in May amid rising prices and limited housing supply, though year-to-date sales are still above the same point last year.
The Wisconsin Realtors Association’s latest report, released this morning, shows 6,553 homes were sold in the state last month. That’s down from 6,745 in May 2025.
But at the same time, year-to-date home sales increased 2.6% to 24,432, compared to 23,807 in the first five months of 2025.
“This is impressive given the tight inventories and persistently high mortgage rates, and we hope to see moderating mortgage rates and inventory improvements that lead to healthy sales performance this summer,” WRA Board Chair Amy Curler said in a statement on the results.
The state’s housing supply was unchanged over the year at 4.1 months, remaining well below the six-month benchmark WRA considers a “balanced” existing home market.
WRA President and CEO Tom Larson says this constrained market is having a big impact on first-time home buyers, pointing to challenges for millennials in particular.
“Although the homes listed at the top of the price distribution show plenty of inventory, very few first-time buyers are buying homes at or above $500,000,” he said in the report. “It’s the homes listed under $350,000 that are primary targets for new buyers, and these homes are unfortunately in very short supply.”
Homes listed for between $125,000 and $350,000 had less than 3.4 months of supply available in May, making up about 40% of all listings in the state. For homes listed for between $350,000 and $500,000 — making up a fourth of all listings — supply levels were higher at 4.2 months.
Only homes listed for $500,000 and higher were at the balanced level of six months, making up about 30% of all listings.
Meanwhile, the state’s median home price increased 6.8% over the year, rising from $330,000 in May 2025 to $352,500 last month.
