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IL Home Sales Struggle, Getting Better

Thu, 24 Apr 2014 09:39:59 CDT
By: IPR


     A year ago at this time, Illinois home sales were surging. And even though they're down this year, one housing analyst says they're still showing long-term improvement. The Illinois Association of Realtors reports just over 99-hundred existing homes and condos sold in March, down 11.6% from a year ago. That's the third straight month of year-to-year sales declines, but Geoffrey Hewings with the U of I Institute of Government and Public Affairs says home sales in the state are still strong compared to recent years, even if they’re not as strong as in 2013:

   
"So while the numbers look as though we're not doing quite as well, compared to the four or five years preceding this, we are still ahead of the game."

Hewings says one sign of strengthening home sales is a continued increase in the state's median home price, up 9.7% from a year ago.

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