The housing market took a big hit at the start of the pandemic.
There was a 26 percent drop in closings in May.
Economist David Clark of the Wisconsin Realtors Association says those offers were accepted in mid-March and April, when the “safer at home” rules were in place. He expects to see similar numbers in June.
Clark says supply and demand both dropped at the start of the pandemic. He says buyers didn’t want to go into other people’s homes, and sellers didn’t want people walking through their places.
The median price did rise by eight percent, compared to May of last year, to $205,000.
In the northeast region, sales were also down 26 percent. The median price climbed seven percent, to $176,000.
