May 2026 Home Sales Report
May Home Sales Slip as Prices Continue to Rise
Date: June 18, 2026
May 2026 at a glance
- Wisconsin existing home sales fell by a modest 2.8% margin in May relative to their levels a year earlier, and the median price rose 6.8% to $352,500 over that same 12-month period.
- Year to date, home sales grew 2.6% compared to the first five months of 2025, and the median price rose to $334,000, which is an increase of 6% compared to the January-through-May time frame of 2025.
- Available statewide supply is unchanged at 4.1 months compared to May 2025, which is below the six-month benchmark that characterizes a balanced existing home market.
- Average monthly mortgage rates have been increasing since February when the 30-year fixed rate fell to just 6.05%. The May average was 6.44%, and while this is 38 basis points lower than May 2025 when rates stood at 6.82%, the upward drift in rates
this year has created challenges for affordability.
- Reviewing the available supply by price range, the tightest price points are between listings of $125,000 and just under $350,000, which had between 3.3 and 3.4 months of supply. This accounts for just over 40% of all listings statewide. In contrast,
there were 4.2 months of supply in the $350,000 to $499,999 price range, accounting for about 25% of listings, and there 4.7 months in the below $125,000 range of listings, but this was less than 4% of listings for May. Finally, the $500,000 and
above price range was balanced at six months, and nearly 30% of all listings were at this price point.
- Wisconsin housing affordability fell 2.4% over the last 12 months. Rising home prices, the recent upward drift in mortgage rates and very weak income growth have pushed affordability to its lowest level in the last 12 months.
Additional analysis
Pace of Sales Remains Solid
“While May sales fell short of last year, our year-to-date home sales remained ahead of the first five months of 2025. This is impressive given the tight inventories and persistently high mortgage rates, and we hope to see moderating mortgage rates and
inventory improvements that lead to healthy sales performance this summer.”
Amy Curler, 2026 Chair of the Board of Directors, Wisconsin REALTORS® Association
Inventory Challenges Affect First-time Buyers
“Millennials represent our largest population cohort, and the current inventory weakness has a big impact on that demographic group. Although the homes listed at the top of the price distribution show plenty of inventory, very few first-time buyers are
buying homes at or above $500,000. It’s the homes listed under $350,000 that are primary targets for new buyers, and these homes are unfortunately in very short supply.”
Tom Larson, President & CEO, Wisconsin REALTORS® Association
Core Inflation Shows Minor Increase thus Far
“Headline inflation saw another increase in May, rising from just 2.4% in January of this year to 4.2% in May. This is the first time headline inflation has exceeded 4% since May 2023. The Fed closely monitors inflation, but it focuses on core inflation,
which removes the more volatile food and energy sectors. Core inflation measured using the Consumer Price Index shows inflation up by less than a half percent this year, rising from 2.5% in January to 2.9% in May. While the Fed is unlikely to lower
short-term interest rates in the foreseeable future, hopefully it will not need to raise rates to reduce inflationary pressures.”
Dave Clark, Professor Emeritus of Economics and WRA Consultant