Illinois Housing Market
Illinois home sales activity in May increased for the ninth consecutive month and it was the third month of positive year-over-year price movement in 2010. IAR's May housing data report found statewide total home sales (single family and condos) were up 27.1 percent compared to May 2009 sales. The median price in May 2010 was $157,000, up 0.6 percent from $156,000 in May 2009. According to University of Illinois economist Dr. Geoff Hewings: “There is increasing consensus that the creation of private sector jobs will probably provide the most important stimulus for the housing sector.” Forecasts for June, July and August suggest a continuation of the positive changes for sales with little or no movement in the statewide median price. Link to Dr. Hewings' forecast.
Source: Illinois Association of Realtors®
Bob Dohn
Coldwell Banker Residential Brokerage
140-A S. Roselle Rd., Schaumburg, IL 60193
Direct phone: 847-301-3126
Web: www.BobDohn.com
Comments