MADISON — The Wisconsin REALTORS Association released its August 2026 Real Estate Report last week, showing existing home sales in Wisconsin fell 8.3% in August compared with August 2025, reversing the upward trend seen in June and July, as declining affordability and tight housing inventory continued to shape the state’s housing market.

The statewide median home price rose to $362,000 in August, up 7.1% from a year ago. At the same time, affordability declined 6.5%, marking the sixth consecutive month of decline and bringing affordability to its lowest level since the Wisconsin REALTORS Association began tracking the measure in 2009.

Sales declined in every region of the state in August. The Central, North, and West regions recorded the largest declines, ranging from 11.9% to 14.5%. Sales fell 9.2% in the Southeast, 6.2% in the Northeast, and 0.9% in the South Central region compared with August 2025.

Despite the monthly decline, the broader market remains positive. Year-to-date home sales are up 3.2% through the first eight months of 2026 compared to the same period last year, while the statewide median price has increased 7.3% to $348,838.

The combination of higher mortgage rates, rising home prices, and limited income growth continues to put pressure on housing affordability. While August marked a decline in monthly sales, the year-to-date market remains ahead of 2025.