LA CROSSE. Wis, (WKBT) - The housing market seems to be getting more competitive. A new report from a leading real estate pricing firm said housing prices have climbed 13 percent nationwide over the past year and some houses are being purchased above the asking price.
In February, 35 percent of the homes purchased across the U.S. were bought with cash. But in La Crosse, only about 5 percent of homes purchased each year are cash offers.
La Crosse Area Realtors Association President Cindy Gerke-Edwards said the housing market in the Coulee Region is very competitive now, however.
Gerke-Edwards said real estate agents are getting many offers and counteroffers on homes for sale which is causing prices to go up just a bit. Gerke-Edwards also said new houses are being listed more frequently now that spring is coming, which should mean a strong year for sales.
"If they're priced right and they're in good condition you're going to have multiple counters coming in and multiple offers on these properties," Gerke said. She thinks competition for homes is being caused by sellers pricing homes correctly.
"I think our sellers are being realistic with pricing them correctly, which is important. I think everybody is very competitive in getting them priced and getting them sold," Gerke said.
She also said another factor helping homeowners is interest rates staying low and right now it's neither a seller's nor a buyer's market, but a balanced one.
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