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A tight market drives up home prices

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LA CROSSE, Wis. (WXOW) - The demand for homes in the area and state is high right now according to local realtors.

Jillian Hugo, a realtor at Coldwell Bank River Valley Realtors, said the housing market is tight for several factors. Besides high demand for homes, and because there is low inventory, prices are driven up.

The pandemic also plays a role. People are having to work from home, need space for their child's schooling, or have to expand office space.

Data from the Wisconsin Realtors Association show the median price of a home rose more than 11 percent in 2020.

"Homeowners don't want to give up their current home until they can find out where they want to go. This doesn't give us realtors a lot of new inventory for buyers to choose," Hugo said. "My advice to anyone trying to navigate the housing market is to find a realtor to work with. Having a realtor to represent you and help you navigate the market will help with less stress."

For the year, home sales were ups about 7.3 percent statewide in Wisconsin. In December alone, sales rose more than 22 percent over December 2019.

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Lindsey Ford

Lindsey Ford is a multimedia journalist.

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