THU AM News: Home sales down 8.7% over the year as prices keep rising; Environmental groups urge DNR to move quickly on PFAS limits policy

October 24, 2024

— Statewide home sales in September were 8.7% lower over the year as prices continued to rise, the latest Wisconsin Realtors Association report shows.

A total of 5,817 homes were sold in the state last month, down from 6,370 in September 2023. Still, year-to-date home sales are 3.8% higher than during the first nine months of 2023, as a “strong start” to 2024 gave a boost to this year’s total so far.

At the same time, the median home price for September rose 6% from $292,500 to $310,000. Despite the rising prices, WRA Board of Directors Chair Mary Jo Bowe says lower mortgage rates “have really helped improve affordability” in Wisconsin. Mortgage interest rates dipped to 6.18% in September, down from 7.2% in September 2023.

“Mortgage rates are more than a percent lower compared to this time last year, and this is the fourth straight month they’ve fallen since averaging a little over 7% last May,” Bowe said in the report.

WRA says the mortgage rate decline coupled with a “slight increase” in predicted median family income helped offset the home price increase, improving housing affordability by 5.7% over the past 12 months.

Meanwhile, the number of total statewide listings rose 6.1% over the year — from 19,668 to 20,862 — showing a slight improvement in inventory levels. But report authors note the housing market remains tight with only 3.8 months of available supply.

“The existing home market continued to signal a strong seller’s advantage, with supply well below the six-month benchmark that indicates a balanced housing market,” they wrote.

WRA President and CEO Tom Larson said Wisconsin still presents “a very challenging market for first-time buyers” seeking starter homes at lower price points. Just 18.2% of listings on the market last month were priced below $200,000, while 31.4% were between $200,000 and $349,999, the report shows. The other 50.4% were priced at or above $350,000.

“There’s a lot of unmet millennial demand, which unfortunately will keep pressure on prices and further shrink the inventory of starter homes,” Larson said.

See the report.

— Environmental groups at a Natural Resources Board meeting urged DNR to quickly draft a policy to implement new, stricter limits for PFAS contamination in drinking water.

Yesterday’s comments came before NRB unanimously approved a statement laying out the scope of a policy to implement new federal standards for PFAS in drinking water. The standards only apply to public drinking water, and do not apply to private wells. Now that the statement has been approved, DNR will begin drafting the proposed rule.

Peter Burress, Wisconsin Conservation Voters government affairs manager, noted DNR estimated it will take two years and 925 staff hours before holding a public hearing on the policy. He argued DNR could move faster, noting other water-related rules had shorter timelines.

“Given the comprehensive research on the health impacts associated with these chemicals and the fact that the federal government already set these more protective standards, we urge the DNR to move more quickly and hold the public hearing on the final rule by June 2025,” Burress said. “We owe it to every Wisconsinite to make progress on this issue as quickly as possible, and we welcome any opportunity to work with the DNR to help make that happen.”

See more coverage at WisPolitics.

— State officials are touting record-low unemployment levels in nine counties in September, based on the latest federal Bureau of Labor Statistics figures.

Gov. Tony Evers notes eight of these are largely rural northern counties, arguing the low unemployment rates there are “no accident.” In a statement on the Department of Workforce Development release, he pointed to “efforts to reduce barriers to work for folks to succeed and stay in the workforce, such as access to job training, child care, transit, housing, and more.”

The counties with record-low unemployment include: Ashland, 2.4%; Bayfield, 2.5%; Burnett, 2.6%; Door, 1.9%; Langlade, 2.7%; Oconto, 2.3%; Pepin, 2%; Rock, 2.5%; and Sawyer, 2.5%.

The DWD says preliminary unemployment rates decreased or stayed the same in 71 of the state’s counties over the year, while rates decreased in all 35 of the state’s largest cities and all 12 metropolitan statistical areas over the year.

See the release.

— UW-Milwaukee has launched a new center aimed at addressing “the lasting impact of racially segregated placemaking” in Wisconsin’s largest city and other urban areas.

The university yesterday announced the launch of the Center for Equity Practice and Planning Justice, within UW-Milwaukee’s School of Architecture & Urban Planning. The release notes Milwaukee is ranked among the most segregated cities in the country.

Kirk Harris, a UWM faculty member of urban planning and advocate for “equity-driven planning” will direct the new center. It aims to create “socially and economically sustainable” communities in areas that have been defined by systemic segregation, the announcement says.

The center will offer resources for urban planners, government agencies and community groups working toward similar goals, holding public forums on “equitable” economic development as well as conducting research initiatives on “areas of concern” for marginalized groups.

“The unresolved effects of racial segregation continue to harm communities,” Harris said in a statement. “The work of the center is vital to developing solutions that address these systemic issues and foster sustainable, inclusive urban growth.”

See the release.

— U.S. Sen. Tammy Baldwin has announced another $86 million is coming to Wisconsin for water infrastructure improvements through the Bipartisan Infrastructure Law.

Yesterday’s announcement says the funding will help communities in the state protect their freshwater resources, replace lead pipes, address contaminants like PFAS and more. The dollars will move through Wisconsin’s Clean Water and Drinking Water State Revolving Funds, offering low-interest loans for related projects.

“No matter your zip code, every Wisconsin family should be confident when they turn on the tap, their drinking water is clean and safe,” Baldwin said in a statement.

In addition to yesterday’s announcement, the state has gotten more than $330 million from the BIL for water infrastructure, according to Baldwin’s office.

See the release.

— Waukesha County Exec Paul Farrow withdrew a proposal to add a 0.5% sales tax just before the county board was set to consider the proposal, saying he wanted to allow time for more public input.

Farrow said in a statement that he would now work with the county board on possible legislative remedies, including creating the option to impose less than a 0.5% sales tax.

“My decision to withdraw the sales tax ordinance from consideration is democracy in action,” Farrow said.

Waukesha is one of four counties that don’t impose the 0.5% sales tax allowed under state law, though Manitowoc will add one in January. Farrow’s proposal, released earlier this month, sought to impose one starting July 1, 2025. He also sought to pair it with a reduction in property taxes, saying it would address an annual budget shortfall of about $5 million.

County officials estimated it would bring in about $50 million to $60 million a year.

— Starting next year, Children’s Wisconsin will be adding pediatric urgent care services at its clinic in Appleton, the health system announced.

Urgent care services for children of any age will be available every day at the clinic beginning in fall 2025, the release shows. Its clinic has more than 60 pediatric providers across more than 20 specialties, and Children’s Wisconsin says pediatric urgent care providers and staff will be added to support the new services.

As part of the health system’s “Connected for Kids” partnership, the clinic will be staffed by both Children’s Wisconsin and ThedaCare. This effort, which also includes Bellin Health, is focused on improving care for children and adolescents in northeastern and central Wisconsin and in Michigan’s Upper Peninsula.

Dr. Matthew Buelow, the partnership’s medical director and medical director for the northeast region for Children’s Wisconsin, says the move will give families access to pediatric specialists in a “child-friendly” environment.

“Adding urgent care to our Appleton Clinic helps provide the right care at the right time and place for minor illnesses and injuries, when an emergency department visit is not needed,” Buelow said.

See more in the release.

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