The Capital Times reports on the housing glut in Wisconsin. "The flood of homes and condominiums hitting the market in Dane County appears to finally be impacting prices, according to the latest statistics from the Realtors Association of South Central Wisconsin. The 1,133 homes and condominiums listed for sale for the first time with the South Central Wisconsin Multiple Listing Service in February were 9.2 percent more than a year ago."

"That brought the total number of homes and condos listed for sale to 4,523 at the end of February, 75.3 percent more than a year ago and 113.7 percent more than February 2004. The 356 reported sales in February were 8.2 percent fewer than a year ago."

"The median sale price in February of $215,445 was just 2.6 percent more than a year ago. 'It's pure basic economics' of supply and demand, said Kevin King, RASCW executive director. The booming inventory is mostly due to the increasing number of condo developments in the Madison area, King said. 'It seems like you can't go too long without reading or hearing about another new condo project,' he said."

"The south central Wisconsin market has been stronger outside Dane County than in the county. King attributed that to the much lower prices in surrounding counties. 'When you look at the median prices for the counties surrounding Dane County it's almost $50,000 at a minimum lower,' he said. 'And depending where you work in the county your commute out of Dane County can be relatively short. 'This is going to be a very interesting year to see unfold,' King said. 'I don't know what to expect.'"