Home sales slumped last month in Bloomington-Normal according to the Association of Realtors. Sales of homes and condos dropped 5 1/2% in May compared to the same month last year and are off more than 11% for the year so far. Data also show the decline in May came solely in sales of existing homes. Association President Chuck Montgomerie says he is not worried.
Montgomerie says the tally for the last two months is actually fairly stable compared to last year. The average price of a home that changed hands is also down slightly, to $171,915 for the month, but increased substantially compared to April.
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