MADISON, Wis. (AP) -- Home sales in Wisconsin dropped by 9 percent in April compared to last year.
Despite hopes for a spring turnaround, it marks the fourth consecutive month that sales have dropped compared to the previous year. The Wisconsin Realtors Association says unusually cold weather in February and March, combined with rising interest rates and home prices likely played a role in the decline.
Association economist David Clark says another factor in the slump could be a tightening inventory of homes on the market. The state median price for a home in April was about $140,000.