January 2026 Home Sales Report
Tightened Inventory Restricts Home Sales and Increases Prices
Date: February 19, 2026
January 2026 at a glance
New listings fell significantly in January, leading to tighter inventory statewide. This resulted in fewer existing home sales and higher home prices relative to a year ago. Specifically, Wisconsin’s existing home sales fell 3.9% compared to January 2025, and the median price rose 7.9% over that same period to $315,000.
Regionally, home sale prices have appreciated in five of the six regions of the state over the last 12 months. The strongest increases were seen in the Northeast, up 11%, and the Southeast, up 10%. This was followed by solid appreciation in the South Central region, up 6.8%, the Central region, up 6.5%, and the West, up 4.5%. The median price in the North region was essentially unchanged compared to January 2025.
The average monthly 30-year fixed mortgage rate fell from 6.96% in January 2025 to 6.10% in January 2026.
The Wisconsin Housing Affordability Index was up 2.2%, reaching its highest level since January 2024.
The January reduction in statewide existing home sales resulted from weak sales in just two regions relative to January 2025 levels: the Southeast, which fell 12.8%, and the West region, which dropped 9.9%. In contrast, growth in home sales was strong in the North region, which grew 8.2%, followed by the Central region, which saw a 4.3% increase in sales over the period. The Northeast and South Central regions grew between 1.3% and 2% compared to a year earlier.
All indicators of inventory showed a decline in January. New listings were down 11.3% compared to their levels in January 2025, and this led to a slight 1.7% reduction in total listings over that same period. Finally, months of inventory fell 6.5% to just 2.9 months in January, which indicates the state continues to have a strong seller’s market.
Additional analysis
Inventory Trends
“Total listings grew on an annual basis for 28 straight months before declining in January. We suspect this is just a temporary deviation from the trend, and we’re cautiously optimistic that the spring and summer markets will see growing inventories.”
Amy Curler, 2026 Chair of the Board of Directors, Wisconsin REALTORS® Association
Upward Trends in Affordability
“The spike in mortgage rates that began in 2022 saw rates topping out over 7%, and as a result, affordability fell to record-low levels. We really didn’t start seeing improvement until the middle of last year. Since June 2025, the 30-year fixed mortgage rate has fallen by nearly three quarters of a percent to 6.1%, and the Wisconsin Housing Affordability Index has increased nearly 16%. Hopefully these improvements in affordability continue.”
Tom Larson, President & CEO, Wisconsin REALTORS® Association
The Role of Demographics in Housing Supply
“We currently have very limited supply in the housing market, but we do expect significant improvement in the next five years due to the aging of a key demographic group: baby boomers. The youngest boomers are now 62 years old, and the oldest just turned 80. Moreover, according to a 2025 survey conducted by the National Association of REALTORS®, boomers accounted for the largest share of both buyers (42%) and sellers (53%) of homes. As those in this demographic cohort continue to age, their propensity to buy homes will diminish, and their propensity to sell will increase, thereby releasing inventory for younger generations.”
Dave Clark, Professor Emeritus of Economics and WRA Consultant
About the WRA
The Wisconsin REALTORS® Association is one of the largest trade associations in the state, representing over 17,500 real estate brokers, salespeople and affiliates statewide. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS® Association and are not seasonally adjusted. Median prices are only computed if the county recorded at least 10 home sales in the quarter. All data collected by the WRA is subject to revision if more complete data becomes available. Beginning in June 2018, all historical sales volume and median price data from 2015 forward at the county level have been re-benchmarked using the Relitix system that accesses MLS data directly and in real-time. Data prior to January 2015 is derived from the Techmark system that also accessed MLS data directly. The Wisconsin Housing Affordability Index is updated monthly with the most recent data on median housing prices, mortgage rates and estimated median family income data for Wisconsin. Data on state foreclosure activity is compiled by Dr. Russ Kashian at the University of Wisconsin-Whitewater.
Note that the WRA employs a slightly different protocol to determine inventory levels than the protocol used by the REALTORS® Association of South Central Wisconsin (RASCW). For consistency, the summary tables for the South Central region reported in the WRA release employ the WRA approach. However, a modified table employing the RASCW methodology is available from the WRA upon request.