More Demand Than Supply Leads to Falling Home Sales

There is less supply of existing homes on the market in Kenosha and that is leading to a drop in sales and an increase in prices. Home sales in January through March were down twelve and a half percent from the same time a year ago. Supply in the first time buyer market is the lowest right now, starter home prices are nearly 10 percent higher than last year. More expensive homes are up about four percent. Mortgage rates are up as well, with a 30 year fixed rate mortgage rate between 4-point-16 to 4-point-44 percent.

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