MONROE - Despite another considerable decline in Wisconsin's existing home sales, local Realtors are optimistic about the future.
First-quarter existing home sales in Green County fell by about 16 percent from 2008 to 2009, the Wisconsin Realtors Association said Tuesday.
Statewide, first-quarter housing sales were down 22.6 percent in 2009 compared to the same time last year.
Local Realtors Melody Hawkins of Prudential Midwest Realty in Monroe, and Jan Albertson of 1st Center Realty in Brodhead, said the numbers aren't as bad as people might think.
There were 62 homes sold in the first quarter of 2008, compared to 52 homes in the first quarter of 2009.
"It sounds worse than it really is," Hawkins said. "We don't get hit as hard as the West Coast or the East Coast."
Albertson said the national media can create a perception that the housing market is worse than it is.
However, the state numbers show a bleaker picture than the 10-home slump in Green County.
"This was worse than the nation, which was down just 6.8 percent," The Realtors association statement said. The group reported housing sales in the Midwest in the first quarter of 2009 were down about 13 percent compared to 2008.
Mark Mulleady, chairman of the state Realtors Association, said there are reasons to be optimistic about housing sales because mortgage rates are at 5 percent and banks are still willing to lend to buyers with solid credit histories.
The federal stimulus package also included a tax credit of up to $8,000 for first-time home buyers in 2009.
"This will certainly bring in first-time buyers who are now just learning details of the plan," Mulleady said.
Hawkins said she can see improvements in the market.
"We see more people looking at houses they can afford," she said. "I can see homes being sold even if it's not as it was before."
Albertson said home sales in Brodhead have improved from the first quarter of 2008 to the first quarter of 2009.
There were 11 closings for her company in 2009 compared to seven in the first quarter last year.
"The phone is ringing again," she said.
In Lafayette County, existing home sales increased from five in the first quarter of 2008 to 14 in the first quarter of 2009, according to the Realtors Association.
Marty Chandler of Chandler Realty in Blanchardville, said she's been busy with people who want to sell and buy houses. Chandler sells home in Lafayette, Green and Dane counties.
She also expects the market to continue to improve.
"I can see signs. It might take two or three months, but I can see it."
Wisconsin Realtors reported the median price for Green County homes declined about 14 percent during the first quarter of 2009 compared to last year, down from $140,000 to $120,000.
The Realtors said the number declined due to reduced house prices and also a mixture of homes for sale.
First-quarter existing home sales in Green County fell by about 16 percent from 2008 to 2009, the Wisconsin Realtors Association said Tuesday.
Statewide, first-quarter housing sales were down 22.6 percent in 2009 compared to the same time last year.
Local Realtors Melody Hawkins of Prudential Midwest Realty in Monroe, and Jan Albertson of 1st Center Realty in Brodhead, said the numbers aren't as bad as people might think.
There were 62 homes sold in the first quarter of 2008, compared to 52 homes in the first quarter of 2009.
"It sounds worse than it really is," Hawkins said. "We don't get hit as hard as the West Coast or the East Coast."
Albertson said the national media can create a perception that the housing market is worse than it is.
However, the state numbers show a bleaker picture than the 10-home slump in Green County.
"This was worse than the nation, which was down just 6.8 percent," The Realtors association statement said. The group reported housing sales in the Midwest in the first quarter of 2009 were down about 13 percent compared to 2008.
Mark Mulleady, chairman of the state Realtors Association, said there are reasons to be optimistic about housing sales because mortgage rates are at 5 percent and banks are still willing to lend to buyers with solid credit histories.
The federal stimulus package also included a tax credit of up to $8,000 for first-time home buyers in 2009.
"This will certainly bring in first-time buyers who are now just learning details of the plan," Mulleady said.
Hawkins said she can see improvements in the market.
"We see more people looking at houses they can afford," she said. "I can see homes being sold even if it's not as it was before."
Albertson said home sales in Brodhead have improved from the first quarter of 2008 to the first quarter of 2009.
There were 11 closings for her company in 2009 compared to seven in the first quarter last year.
"The phone is ringing again," she said.
In Lafayette County, existing home sales increased from five in the first quarter of 2008 to 14 in the first quarter of 2009, according to the Realtors Association.
Marty Chandler of Chandler Realty in Blanchardville, said she's been busy with people who want to sell and buy houses. Chandler sells home in Lafayette, Green and Dane counties.
She also expects the market to continue to improve.
"I can see signs. It might take two or three months, but I can see it."
Wisconsin Realtors reported the median price for Green County homes declined about 14 percent during the first quarter of 2009 compared to last year, down from $140,000 to $120,000.
The Realtors said the number declined due to reduced house prices and also a mixture of homes for sale.