(Nov. 20, 2014) - Illinois home sales inched higher in October and median home prices continued upward with a statewide year-over-year increase of 6.0 percent, according to the Illinois Association of REALTORS®. Read the news release.
Infographic: October Illinois Housing Market Snapshot
Housing Price Forecast
“The housing market appears to be pausing in its positive sales growth trends, not unusual for this time of the year,” noted Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “Prices continue to improve and the forecasts suggest growth in the next three months. Recent declines in the reduction in the foreclosure housing inventory suggest that we may have to wait until 2016 at the earliest for a return to pre-bubble levels.”
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