Illinois Housing Stats

Market Stats and Research

Illinois Home Sales Rise 25.9% in August
Statewide home sales totaled 10,622 in August, a 25.9 percent increase from a year ago, according to the latest IAR report. The statewide median price in August was $149,000, down 5.4 percent from $157,500 in August 2010. Looking ahead, home sales in Illinois and the nine-county Chicago region should see positive year-to-year gains in September, October and November, according to the University of Illinois REAL forecast. Find the forecast, county-by-county statistics and talking points in Members Only Market Stats (login required). Nationally, August existing home sales were up strongly from a year ago.

IAR in The News
IAR's August home sales report garnered favorable media coverage including: "Local home sales jump for second straight month," "Home sales in Illinois up 25.9 Percent," and "Another positive report on county housing market." IAR President Sheryl Grider Whitehurst was interviewed by Chicago's WGN and WBEZ radio stations and IAR President-Elect Loretta Alonzo was quoted in the front page Daily Herald article, "Number of homes sold here increases in August."

First-time Buyers Tired of Short Sales
A survey by Campbell/Inside Mortgage Finance found first-time homebuyer interest in short sales waning due to several factors slowing down the process, HousingWire reports.

Article is Courtesy of "The Illinois REALTOR® Weekly Connection" - IAR