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Study: Wisconsin housing market better than most states

Wisconsin recovery better than the country's, according to study.

Wisconsin recovery better than the country's, according to study.

Families looking to move to a region of the country that wasn't hit too hard by the housing meltdown may find Wisconsin to be worthy of consideration, according to a study published in Wisconsin Real Estate Magazine.

"We have done better than most states," writes Stephen Malpezzi, housing expert and author of the study. "Housing prices in Wisconsin, as elsewhere, have stopped their decline and appear to have stabilized. House prices are back in line with fundamentals."

Using national and economic data, Malpezzi notes that the Wisconsin unemployment percentage is nearly two points lower than the national average, and that Wisconsin home values haven't decreased as precipitously as in other states. If the current trend holds, Malpezzi projects that real home prices in the Badger State will increase 2 percent in 2011 - good news for people looking to move to areas with some stability.

Malpezzi believes the national housing outlook should improve in 2011 as well, but other studies aren't as optimistic. RealtyTrac, an organization that follows foreclosure trends, says foreclosures and repossessions will be even higher in 2011, higher than the record 2.9 million last year.

According to RealtyTrac, states with the highest foreclosure rates in 2010 were Nevada, Arizona and Florida.