Despite dip in home sales, outlook increasingly positive
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WALWORTH COUNTY — Home prices in Walworth County dropped by more than 8 percent in the second quarter of 2009, according to a report released by the Wisconsin Realtors Association.
The median price for a home dropped from $188,900 to $173,300 when compared to the same quarter last year.
The number of homes sales continues to slide as well. The report shows 269 existing homes were sold in the second quarter of 2009, compared to 294 a year ago.
Despite the drop, there are signs on the horizon the the sluggish home-sales market may begin to improve, acording to Michael Mulleady, Chairman of the Board of the WRA.
Mulleady noted the Conference Board’s Index of Leading Economic Indicators was up for the third consecutive month in June of this year, and the Dow Jones Industrial Average closed above 9000 in July with the upward trend continuing into the first half of August. “These are positive developments because improvements in the national economy will help stimulate job growth in the state, which will directly improve Wisconsin’s housing market,” Mulleady said.
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