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Housing continues to come out of slump

Tue, 11 Sep 2012 12:20:06 CDT
By: Jim Browne

Housing continues to come out of slump
Home sales continue to recover in Bloomington-Normal, with 260 dwellings changing hands last month, 16 more than the previous month, and 71 more than in August of 2011. Steve Rader, president of the Bloomington-Normal Association of Realtors, says he foresees year-to-date improvements to continue:


"We slowly keep increasing each month, I think this is 11 months in a row that we've shown an increase, so in looking at the 260, a for the month, looks like that is the second highest month of the year so far."

The highest home sales month of the year was in June when 275 homes were sold. Rader says builders are sticking with more modest homes, but he thinks a return to more expensive homes could occur by next spring:


"I think they'll stay in the midrange, uh, you'll see a few more probably pop up here and there. Depends on if they need a winter project or not, you know build a big house during the winter. But I think even next spring we'll start to see a little more of the higher priced ones coming on the market."

The average price of a home sold last month was $181,000, about the same as August 2011.


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