Milwaukee metro home sales jump in October

CREATED Nov 12, 2012

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MILWAUKEE (AP) -- A report says sales of existing homes in the Milwaukee metro area jumped almost 33 percent in October from a year ago.

Metro MLS Inc. said Monday there were 1,386 homes sold last month in Milwaukee, Ozaukee , Washington and Waukesha counties. That compares with 1,044 in October 2011.

Through the first 10 months of 2012, sales were up nearly 26 percent from 2011. The Milwaukee Journal Sentinel reports the jump in October comes after the pace of sales increases had appeared to slow in September.

President Mike Ruzicka of the Greater Milwaukee Association of Realtors says the summer-fall market typically trails off after Labor Day. But Ruzicka says this year, buyers decided to continue taking advantage of historically low interest rates and low prices into the fall.