THU AM News: September home sales decline amid rising mortgage rates; DOJ part of coalition suing to block manufacturer acquisition

October 22, 2026

— Wisconsin home sales dropped 2.4% over the year in September amid rising mortgage and a slowing state housing market.

That’s according to the latest Wisconsin Realtors Association report, which notes the average 30-year fixed mortgage rate rose to 6.86% last month. That’s the highest it’s been since January 2025 when it hit 6.96%.

WRA President and CEO Tom Larson notes both buyers and sellers will be impacted if this trend continues.

“Specifically, lower affordability obviously hurts buyers, and higher rates also keep potential sellers from listing their homes because they don’t want to give up the very favorable rates locked in over the last six years,” he said in the report.

A total of 6,284 homes were sold in Wisconsin last month, compared to 6,439 in September 2025. Just over a third of those sales were in southeastern Wisconsin, while the state’s northeastern and southcentral regions each made up about 20% of the total for the month.

Even as higher borrowing rates “softened” buyer demand, total listings and housing supply in Wisconsin increased over the year, the report shows.

Total listings rose 3.8% since September 2025, though new listings also fell 5.1% over the same period. And months of supply rose 2.3% to 4.4 months in September, continuing a slow trend of improvement since late 2022.

“Supply is improving, but slowly: large metro counties sit at four months of inventory, still a seller’s market, while rural counties are at 6.1 months,” authors wrote, noting six months of supply is generally considered a balanced market.

Meanwhile, the state’s median home price increased 1.5% to $342,000, which WRA says is the slowest annual increase since June 2014. But even with that slower growth, overall affordability declined by 5.5% over the year as “flat income growth and higher rates squeezed buyers,” WRA notes.

Looking ahead, WRA consultant Dave Clark notes the Federal Reserve is “committed to taming inflation,” which could have implications for further mortgage rate changes. He noted in the report the Fed recently raised rates by 25 basis points in September though is unlikely to do so again this month given the midterm elections.

But he added “an increase at the December meeting would not be surprising” if core inflation doesn’t go downward. Inflation rose to 3.7% in September, up from 3.4% in August.

“Lowering inflationary expectations is an important precursor to reducing mortgage rates,” Clark wrote.

See the report.

— The state Department of Justice has joined an effort to stop a manufacturer of playground equipment from acquiring a Wisconsin-based company, arguing the move would lead to higher prices and worse quality in the market.

Along with the Federal Trade Commission and the attorneys general of another 11 states, the Wisconsin DOJ is suing to stop North Carolina-based Playpower from acquiring BCI Burke in Fond du Lac.

Under the proposed transaction, PlayPower would add the Burke brand to its existing portfolio, which also includes other companies it previously acquired including Miracle Recreation Equipment Company and Little Tikes Commercial and Playworld Systems Inc.

Yesterday’s announcement notes the two companies are among the largest in the industry, arguing a merger would “drive up prices and decrease innovation and quality” for customers such as schools and parks and recreation departments.

The coalition’s lawsuit argues against ending the “intense head-to-head rivalry” between PlayPower, noting the businesses have directly competed on price, lead times, quality and product innovation.

“The loss of price competition between Defendants is especially problematic because, as demand for commercial outdoor playgrounds has increased, consolidation has resulted in significant price increases,” the plaintiffs wrote.

Just five companies including Burke and PlayPower currently own more than a dozen playground equipment brands, constituting up to 90% of market share domestically, the lawsuit notes.

“The five major manufacturers’ combined market share has grown in recent years and is expected to keep rising,” plaintiffs wrote, arguing the “shrinking pool” of independent manufacturers like Burke result in high prices as the norm.

At the same time, the defendants occupy a similar position in the market, focusing on small to medium-sized projects for schools, daycares and other early childhood care providers. Other major companies in the industry, including Landscape Structures and Kompan, get most of their sales from larger, budgeted projects.

Along with expected impacts on price and product innovation, the coalition says the merger would negatively impact independent sales representatives who sell the companies’ equipment, resulting in lower commissions or worse service terms.

“Mergers that reduce competition can undermine innovation and lead to increased prices,” AG Josh Kaul said in a statement. “When we keep markets competitive, we protect consumers.”

The companies did not immediately respond to requests for comment.

Plaintiffs include the state DOJ, the FTC and the state AGs of Arizona, California, Colorado, Illinois, Nevada, North Carolina, Ohio, Pennsylvania, Tennessee, Texas and Washington.

See the release.

— Quantum sensor company Dirac Labs has joined the Wisconsin Security Research Consortium, an effort to advance defense research and related economic opportunities in the state.

The Madison-based tech company has joined the WSRC as an industry affiliate, providing navigation alternatives for autonomous maritime missions.

While it’s developing quantum sensors for underground discovery of rare earth metals, its technology has applications across security and defense sectors as well.

Dirac Labs CEO and Co-Founder Sanket Deshpande says joining the consortium will connect the UW-Madison spin-off with other researchers, federal sponsors and customers who understand the potential advantage provided by the company’s sensors.

“The platforms that need precise navigation the most—submarines, subsurface systems, and uncrewed vehicles operating under jamming—are exactly the ones GPS can’t serve,” he said, noting the consortium “gives us a direct path to move our sensors from prototypes to the field, with Wisconsin partners alongside us.”

See more at Madison Startups.

— State officials and law enforcement agencies are holding dozens of events across Wisconsin this weekend for National Drug Take Back Day.

The state Department of Justice yesterday announced 136 events are planned for Saturday with 239 participating law enforcement agencies. They’re meant to offer a safe way to dispose of unwanted or extra medications, as an alternative to flushing them or pouring them down the drain.

“I encourage folks to take this opportunity — or, to use one of the hundreds of the drug-disposal locations in Wisconsin available year-round — to responsibly dispose of their unneeded medications,” Attorney General Josh Kaul said in a statement.

Find disposal locations here, and see the release.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

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