MADISON — The Wisconsin REALTORS Association released its July 2026 Real Estate Report on Aug. 20, showing Wisconsin’s housing market continued to rise in both home sales and prices for the second consecutive month, reflecting continued buyer demand despite affordability challenges and a still-constrained supply of homes.

Existing home sales increased 8.1% in July compared to July 2025, while the statewide median home price rose 6.8% over the same period to $360,000. Regionally, year-to-date home sales and prices increased in every region of the state relative to the same time frame last year.

While inventory remains below the level associated with a balanced market, the number of homes coming onto the market continues to improve. Supply held steady at 4.2 months in July, essentially unchanged from a year ago but still below the six-month benchmark for a balanced existing home market. New listings rose 1.3% over the past year, while total active listings increased 1.6%, reflecting gradual but steady improvement in available options for buyers.

Even with mortgage rates modestly lower than a year ago, housing affordability continued to decline. Wisconsin’s Affordability Index fell 4.1% over the past 12 months as rising home prices — up 6.8% year-over-year — more than offset slight rate improvements and only modest gains in median family income.

Affordability challenges continue to weigh most heavily on first-time homebuyers, who face a shrinking supply of lower-priced homes. Over the past five years, the share of homes listed for less than $350,000 declined from 68.9% in June 2021 to 46.2% in June 2026.