Wis. real estate value increases at fastest rate in 15 years

MILWAUKEE (AP) — A new study shows Wisconsin’s housing market is strong with the total value of homes and other property sold in 2021 increasing at the fastest rate in about 15 years.

The Wisconsin Policy Forum study says revenue from fees on real estate sales totaled more than $132 million during the fiscal year ending June 30. That compares with nearly $97 million in revenue for the prior fiscal year.

The nonpartisan civic group’s report says the 2021 real estate market was driven by historically low mortgage rates.

The Wisconsin Realtors Association says other factors include strong demand from millennials reaching ages in which people often buy homes, along with a limited supply of homes.