Milwaukee home sales in the United States fell in January, the most recent data available.
The median sale price fell 4.7% to $8,935.
A new survey found that the number of listings on the National Association of Realtors’ website was down 0.7%, to 5,865.
The numbers aren’t particularly encouraging for the home-building industry.
Homebuilding’s share of the market fell to 4.4% from 5.3% in December, according to the Realtor.
That’s the lowest level in six years.
The average price dropped 5.6% to a record $1,053, according a survey by Zillow.
The report also showed that a quarter of new listings in January were in Milwaukee, down 0% from a year ago.
The National Association for Realtry’s website reported that the median price of a Milwaukee home fell 6.3%, to $1.9 million, for a median price that’s the fourth lowest in six months.
The report also noted that the national median price dropped by 6.6%.
“The trend of record low sales prices is not new.
But this trend is becoming more pronounced,” said Dan Cappuccio, president and CEO of the National Realtressors Association.
“It’s happening across the country.
I think it’s very unfortunate and it needs to be addressed.”
Some of the biggest declines have occurred in places like New York and San Francisco, according in a new report from Zillows.
In the U.S., the average price of the median home fell 11.2% from the previous year, and the median value of the homes that sold fell 15.2%.