Home sales up in central Wisconsin - WAOW - Newsline 9, Wausau News, Weather, Sports

Home sales up in central Wisconsin

There is a change of pace in the real estate market. Home sales across the country are at their highest level in eight months. Sales in central Wisconsin are even stronger.

Real estate agents in central Wisconsin say their phones have been busy.

"I think that the weather from the winter made people want to move from their houses. They kind of got cramped in because they were inside with the cold so long," said Lana Mohs, a broker associate.

She says finding that extra space is one reason homeowners are buying new houses.

"Home sales are up ten percent in central Wisconsin from this time last year," said Mohs.

That's even better than the national average.

"Right now it's a sellers market. If you price your home correctly and have it ready to sell, you can have multiple offers," said Mohs.

The National Association of Realtors says across the country homes sales have increased for the third straight month. Despite the spike, the sales are still 2.3 percent below the pace this time last year.

Experts say while it is a sellers market, buyers are still getting a good deal too because mortgage rates are so low.

"Interest rates have been staying steady and staying in the fours, depending on programs, with a 30 year fixed," said Scott Estlund, senior mortgage consultant.

Experts say those low interest rates, an itch from a long winter, and confidence in the market are all contributing to the uptick.

"The economy has really made a comeback and so people don't have the fear they used to," said Mohs.

I think overall people are really positive. I think after seeing our inventory after the weather has changed people are really excited, looking at getting into a new home and becoming first time home buyers," said Estlund.

Real estate agents told Newsline 9 they're just hoping the market continues to slowly improve. They say they want to avoid the bubble and then burst that happened in the recent recession.

Powered by Frankly