— Home sales in the greater Milwaukee area were down 21.1 percent over the year in May, continuing a trend seen throughout the first part of this year.
According to the latest Greater Milwaukee Association of Realtors report, 1,574 homes were sold last month in Milwaukee, Waukesha, Ozaukee and Washington counties. In May 2022, that number was 1,995.
GMAR says home sales will likely remain below last year’s figures through June due to the first half of 2022 experiencing intense competition and record sales during the “pandemic market.”
The report also shows average prices were 1.6 percent higher over the year in May — rising from $367,625 to $373,610.
At the same time, total listings dropped 23.3 percent over that period, from 2,528 in May 2022 to 1,940 last month. Report authors wrote the metro area is still “nowhere near becoming a balanced market” anytime soon, as new home construction continues to be outpaced by buyer demand.
“With little to no new construction of single-family houses or condominiums, and an overabundance of apartment construction, current homeowners cannot move because there simply is nowhere to move to,” they wrote.
Plus, more Millennials and Gen-Z buyers entering the housing market while interest rates are at “reasonable” levels is creating a historically tight market.
See the full report: https://www.gmar.com/resources/research-statistics/2023-housing-statistics
— Family owners of wedding barn Homestead Meadows are blasting lawmakers for proposing an overhaul of Wisconsin liquor laws they argue would put them out of business.
Stephen Nagy in a packed Assembly State Affairs Committee public hearing yesterday argued the measure would fundamentally change the wedding barn business model. The bill would create a Division of Alcohol Beverages within the Department of Revenue. Currently, wedding barns not licensed to sell liquor must work with outside vendors to provide and sell alcohol at their events.
The measure would only allow wedding barns to host events six days per year and one day per month if there is alcohol available during the events, unless they obtain a Class B liquor license.
“What viable business could be in business six days a year and one day a month? That’s ridiculous,” said Nagy, one of the family owners of the Appleton wedding venue.
The license would also require venues to invest in all the facilities required for such a license, such as refrigeration and other infrastructure.
Rep. Michael Schraa, R-Oshkosh, countered that “it’s a little overdramatic, saying that your business is going to be put out of business.”
Since Nagy’s business doesn’t make any money directly from alcohol sales and wedding barns could still host as many events as they want under the bill if they don’t have alcohol available, Schraa said the bill wouldn’t change the business model. He also argued wedding barns could change their business models, hire more staff and make the investments to sell alcohol to start making money off drinks sales.
“I love your passion, but to say that this is going to put you out of business, it’s just not,” he concluded.
See more on the bill: https://www.wispolitics.com/2023/tue-pm-update-shared-revenue-backers-still-whipping-gop-senators-ahead-of-expected-vote-tomorrow
— In a recent global survey, Milwaukee-based ManpowerGroup found the hiring outlook among employers in 26 countries has declined compared to this time last year.
Meanwhile, the hiring expectations improved year-over-year in 12 countries and remained the same in two countries, according to a release from the company. The online survey tapped nearly 39,000 employers across 41 countries in April.
While all regions included in the report still have a net positive hiring expectations, the overall global outlook has weakened since last year, ManpowerGroup says. North America has the strongest outlook.
ManpowerGroup Chairman and CEO Jonas Prising says the latest findings suggest employers worldwide are “planning more measured hiring for the quarter ahead” as they grapple with supply constraints, uneven consumer confidence and inflation.
“That said, attracting and retaining business critical talent remains a priority, and our survey respondents around the world continue to be focused on hiring for in-demand roles,” Prising said in the release.
See more from the survey: https://www.wisbusiness.com/2023/manpower-group-employers-globally-dial-down-hiring-expectations-in-q3/
— The median cost of giving birth in Wisconsin is higher than elsewhere in the Midwest and many other parts of the U.S. according to a data tool from nonprofit FAIR Health.
This tool shows the effective median “allowed amount” for a vaginal birth in Wisconsin is $13,918. That number represents the total fee negotiated between an insurance plan and provider for an in-network service, including both what the plan itself pays and what the member pays.
By comparison, that figure is $12,461 for Minnesota, $10,630 for Iowa, $11,805 for Illinois, $11,349 for Indiana and $10,779 for Michigan. And the national median allowed value for vaginal delivery is $12,968.
For cesarean sections, those figures are all several thousand dollars higher, but Wisconsin’s median allowed value for the procedure remains higher than the national figure and those for other Midwest states. The same pattern emerges when comparing charge values, which is the amount charged to a patient who’s uninsured or obtaining an out-of-network service.
Services captured in the data tool include the delivery itself — pharmacy, nursery, labor and delivery room, medical and surgical supplies, and room and board for the mother — as well as anesthesia, fetal nonstress tests, ultrasounds, lab work and breast pump.
FAIR Health is an independent nonprofit that manages the largest database in the country for privately billed health insurance claims, according to its website. It also collects Medicare Parts A, B and D claims data from 2013 to the present.
See the data tool here: https://www.fairhealth.org/fh-trackers/cost-of-giving-birth
<br><b><i>Top headlines from the Health Care Report…</b></i>
— Madison-based startup RedFox AI has brought on several health and tech industry veterans to serve as advisors, including a former executive with Exact Sciences.
<i>For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.</i>
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— RENEW Wisconsin’s Solar for Good program announced $220,000 in grants and solar panel donations have been awarded to nonprofits in the state.
This effort of the Madison-based renewable energy advocacy group aims to support the expansion of solar energy projects in the state through a partnership with the Couillard Solar Foundation in Deerfield.
With help from the program’s spring round of grant funding, 16 nonprofits in Wisconsin will be making about $2 million in renewable energy investments, according to the release. This is its 12th round of grant funding.
One of the recipients, Gilda’s Club Madison, will have all of its electrical costs offset by its planned solar installation. This organization provides cancer support programs to patients and families at no cost. But Executive Director and CEO Lannia Stenz notes “that doesn’t mean what we do is free.”
“Lowering this expense matters because reduced overhead means more time, dollars, and effort going to cancer support,” she said in a statement. “This grant will help us take the first step toward making our solar dreams a reality!”
Since launching in 2017, the program has provided grants to more than 185 organizations, contributing to more than $12.2 million in clean energy investments in the state.
See the release: https://www.wisbusiness.com/2023/renew-wisconsin-powering-wisconsin-nonprofits-solar-for-good-awards-grants-to-16-organizations/
See more on the program: https://www.renewwisconsin.org/solarforgood/
#TOP STORIES#
# Generac sued by suppliers after allegedly refusing to buy millions of dollars in custom-made parts
# Restaurant software startup in Milwaukee raises $12M to accelerate AI use
# Wollersheim Distillery grows with rye variations and canned cocktails
#TOPICS#
# AGRIBUSINESS
– Medgene granted second license for innovative platform vaccine to enhance port industry solutions
http://wisconsinagconnection.com/story-state.php?Id=592&yr=2023
– Wisconsin Ag Coalition applauds State Senate passage of Agricultural Road Improvement Program
http://wisconsinagconnection.com/story-state.php?Id=591&yr=2023
– As sales of cow’s milk decline, the dairy-free market is turning into a ‘quiet superstar’
http://wisconsinagconnection.com/story-state.php?Id=589&yr=2023
# CONSTRUCTION
– Kraus-Anderson builds two Grantsburg, Wisc. schools
– Potawatomi Casino temporarily closes during massive $100 million renovation
# ENVIRONMENT
– Oneida Reservation projects ‘repair the land to what it wanted to be’
# LEGAL
– North Carolina attorneys plead guilty in Wisconsin political action committee scam
# MANUFACTURING
– Brown Deer-based TAPCO names new president and CEO
– Caleffi to expand again in Menomonee Valley
# POLITICS
– Milwaukee alders denounce provisions within shared revenue bill
– Amid push to prevent summertime violence, Wisconsin Democrats reintroduce gun safety bills
– Voucher schools see a lifeline in shared revenue deal, but Evers allies are outraged
# REAL ESTATE
– The Avenue developer buys Brewer’s Hill housing development site
# SMALL BUSINESS
– Marquette student-led business to partner with Stone Creek coffee
# TECHNOLOGY
– SHINE Technologies appoints former Marquette Medical, TomoTherapy CEO to board
– Milwaukee Tech Week will be run by Milky Way Tech Hub this year
# TOURISM
– Wisconsin tourism’s 2022 economic impact breaks pre-pandemic record, sets new overnight visit record
– Milwaukee county increases tourism economic impact dollars
# TRANSPORTATION
– Lac du Flambeau Tribe extends temporary access to town roads crossing reservation land
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
OCMH: Highlights importance of universal screening
Sen. Baldwin: Announces $23 million to support dairy industry
