MILWAUKEE, Wis. (WTAQ) - The end of a federal tax credit for home buyers has brought sales of existing homes in Milwaukee to a near halt.
A report released Tuesday shows those sales were down by 45 percent in July. Realtors sold 885 homes last month in the Milwaukee metro, compared to more than 1,600 in the same month of 2009.
The special federal tax credit for buyers ended April 30. Realtor groups report members saying accepted offers dropped off noticeably in May and June, leading to the huge drop in closings for the month of July.