July 2025 Home Sales Report

Inventory Improvements Moderate Price Appreciation as Sales Flatten

Wisconsin Monthly Housing Report July 2025

Wisconsin Housing Statistics

Date: August 21, 2025

July 2025 at a glance

• For the third straight month, median prices rose at an annual pace under 5%, and this coincides with a general improvement in inventory levels over the May through July period. Both total listings and months of available supply improved in each of those months relative to their levels a year earlier. 
• July existing home sales were relatively flat statewide, falling just 0.3% when compared to July 2024, and the median price rose to $337,125, which is a 4.5% increase over the last 12 months.
• Year-to-date home sales were up 0.5% compared to the first seven months of 2024, and the median price rose 6.6% to $325,000 over that same period.  
• Stronger inventory translated into strong sales growth in the more rural parts of the state, with inventory growth in the North region increasing 13% to 6.1 months of supply, and closed sales up 12% over the last year.
  Months of supply improved across all urban classifications, but the more urban areas remained a seller’s market in July 2025. The large metropolitan counties had 3.6 months of supply, whereas counties with smaller cities classified as micropolitan had 4.3 months of available supply in July. Finally, rural counties with a population of fewer than 10,000 residents were essentially balanced with 5.9 months of supply. 
• The average 30-year fixed mortgage rate fell 13 basis points from 6.85% in July 2024 to 6.72% in July 2025.  Mortgage rates have consistently remained in the 6.5% to 7% range over the last 12 months.
• Affordability remained low, improving just 1.7% since July 2024. The WRA has tracked Wisconsin affordability since 2009, and the July 2025 measure of affordability is only about 4.3% higher than the low benchmark established in June 2024.  

Additional analysis

Inventory Improvements Continue

“All of our measures of inventory improved in July, which continues a general trend we’ve seen since April. Addressing the inventory shortage is key to improving sales and moderating the rapid appreciation of prices.”

Chris DeVincentis, 2025 Chair of the Board of Directors, Wisconsin REALTORS^® Association

Affordability Challenges

“Housing affordability is a national problem, and while the Midwest fares better than the other regions of country, we’re not immune to the challenge. The moderation of price appreciation and income growth both help, but the stubbornly high mortgage rates have kept Wisconsin affordability near record-low levels. Hopefully we see mortgage rates improve over the next year.” 

Tom Larson, President & CEO, Wisconsin REALTORS^® Association

Initial Signs of a Cooling Economy

“The president has been urging the Fed to lower short-term interest rates, but Fed Chairman Jerome Powell has resisted this pressure, fearing that lowering rates will re-ignite inflation, which remains slightly above the Fed’s target rate of 2%. Although initial estimates show the economy grew at a solid 3% pace in the second quarter, there are signs of cooling. While imports dropped significantly and consumer spending grew at a modest pace, consumer confidence dropped in June. In addition, business investment and exports both fell in the second quarter. This will likely motivate the Fed to begin cutting short-term interest rates, perhaps as early as September.” 

Dave Clark, Professor Emeritus of Economics and WRA Consultant