6-24-14 home sales down again

MADISON, Wis. (AP) — Home sales in Wisconsin have declined for a fifth month in a row.  The Wisconsin Realtors Association said Monday that home sales were down 6.9 percent in May, compared to the same month a year earlier.  That's not all bad news.  Steve Lane is chairman of the association's Board of Directors. He says the state economy appears to be improving and unemployment is lower, and that can affect home sales.  Homes that are selling are commanding a better price. The median price in May was $150,000, up 3.8 percent from May 2013.  Wisconsin Realtors Association President Michael Theo also says lending reforms may have slowed the market.  Nationally, home sales were down 7 percent in the first four months of 2014 compared to the same time in 2013.