WI: Home Prices Drop For Third Year

Gay Wisconsin Real EstateLed by business and forestland prices, property values in Wisconsin fell for the third straight year in 2010, though the drop was just over half of what it was the previous year.

A report by the state Department of Revenue shows that the value of homes, businesses and other property in the state fell by 1.8% to $487 billion in 2010. That compared with a 3.1% drop in 2009.

Property values in the state have been falling since 2008. Before this three-year downturn, there is only one other year going back to 1959 in which property values fell, according to state figures that are not adjusted for inflation.

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