Quarterly sales rose in most regions with the Central, South Central, Southeast and West regions up between 2.1% and 3.6% relative to the first quarter of 2025. The Northeast saw an increase of just 0.7% in quarterly sales, and the North region fell 3.8% over that period. On a year-to-date basis, regional prices saw annual appreciation rates of between 4.8% and 7.6% in all six regions of the state.

Even though the average monthly 30-year fixed mortgage rate rose slightly compared to February, the March rate was still nearly a half percent below its level of a year ago. The 30-year fixed mortgage rate fell 47 basis points to 6.18% over the last 12 months.

Inventories remained tight, with months of available supply dropping 2.9% over the last year to just 3.3 months. This remains well below the six-month benchmark that indicates a balanced existing home market. Total listings were essentially flat, rising just 0.3% over the last year.

Affordability was virtually unchanged, falling just 0.1% since March 2025. The Wisconsin Housing Affordability index measures the percentage of the median-priced home that a potential buyer with median family income qualifies to purchase, assuming 20% down and the remaining balance financed with a 30-year fixed mortgage at current rates. The index was 132 in March, down from a value of 133 a year earlier.

Additional analysis

Sales Bounce Back

“Sales rebounded in March after a slow start in January and February. As we enter the peak period for sales, it’s good to see this bounce in closings, and hopefully it continues into the summer.”  

Amy Curler, 2026 Chair of the Board of Directors, Wisconsin REALTORS^® Association

Stalled Affordability Index

“After four months of improvement, affordability stalled in March. This was because the annual appreciation of home prices ticked up, rising 6.5%, and the modest improvements in family income and mortgage rates just kept pace with that price increase. Supply remains tight, so we really need to see consistent reductions in mortgage rates for affordability to improve.”

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

Energy Prices and Inflation

“The disruption of global oil supplies resulting from the war with Iran has caused a spike in annual inflation rates. Headline inflation measured using the Consumer Price Index rose from an annual rate of 2.4% in January and February to 3.3% in March. Not surprisingly, the impact on the so-called core inflation rate, which factors out the more volatile food and energy sectors, rose only slightly from 2.5% in January and February to 2.6% in March. While the Fed focuses on core inflation when gauging inflationary pressures, we shouldn’t expect to see any interest rate cuts by the Fed until both measures of inflation settle back down to pre-war levels.”

Dave Clark, Professor Emeritus of Economics and WRA Consultant