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Housing prices up slightly

An existing single family home which is up for sale is pictured in Burbank, California December 15, 2011. REUTERS/Fred Prouser
An existing single family home which is up for sale is pictured in Burbank, California December 15, 2011. REUTERS/Fred Prouser

UNDATED (WSAU-Wheeler News)  Wisconsin Realtors say housing remains relatively affordable, even with prices going up. Yesterda, the state Realtors Association reported its fifth straight month of declining home sales compared to the previous year.

Sales were down almost 7-percent statewide, while the median home price rose by almost four-percent to $150,000.

The group said new homes have become slightly less affordable, based on the state's Housing Affordability Index -- but Realtors' president Michael Theo said new listings and inventory levels both rose slightly last month. He said both factors should continue to make Wisconsin homes relatively affordable. Realtors' board chairman Steve Lane said the higher home prices were partially why sales have declined. He also cites higher interest rates, and tighter federal mortgage regulations.

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