Realty numbers drop sharply, but area realtor isn’t worried

Sales dipped by 20 percent in county,
but it’s more about supply and demand

Home sales numbers continue to stall in Wisconsin. That, according to the state Realtors Association report out Monday.

Overall sales dipped by nearly eight percent in July over the same month last year. In La Crosse County, sales were down over 20 percent compared to last year during the same month while home sale prices have increased by nearly 15 percent.  

But, according to La Crosse Area Realtors president Chuck Olson, there is nothing to be alarmed about. The problem with slowing sales right now, says Olson, is that there’s just not enough homes on the market. That is putting downward pressure on the number of home deals closed and also pushing up prices.  

Olson also insists the foundations of the economy are all pretty good and he expects demand for homes to continue if all continues to go well. He adds there is a continued shortage of good homes to buy. Otherwise, the state and local economy seem in pretty good shape

“Jobs are the key,” Olson said. “Gotta have jobs first. If the interest rates are reasonable, people still want to have home ownership.

“Housing is still pretty affordable, we have good jobs in our area – Western Wisconsin has good job number – interest rates are still low. It’s just a matter of the supply catching up with the demand.”