Home sales drop 17 percent through June - WAOW - Newsline 9, Wausau News, Weather, Sports

Home sales drop 17 percent through June

MADISON, Wis. (AP) -- Things aren't getting much better for Wisconsin's housing market.

Sales of existing homes for the first half of the year dropped about 17 percent compared to last year.  The Wisconsin Realtors Association says the median sale price declined about 7 percent.

Association president Bill Malkasian says even though there are plenty of houses for sale and interest rates are relatively low, many buyers remain on the sidelines because of tougher lending standards and uncertainty about their jobs and the economy.

The Journal Sentinel says the median price of homes sold was $130,000 in the first six months, down $10,000 from last year.

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