(Sept. 22, 2014) -- Illinois median home prices continued to see robust annual gains in August while tighter housing inventory and credit availability slowed sales in the final month of the summer selling season, according to the Illinois Association of REALTORS®. Read the news release.
Infographic: Home Sales and Prices Up This June
Housing Price Forecast
“Modest increases in median prices are anticipated to continue. Analysis reveals the decrease (on an annual basis) in sales can be attributed to the decline in foreclosure sales; regular sales are almost at last year's level,” said Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “A re-estimate of the foreclosure inventory suggests it will be another 12-15 months before this inventory returns to pre-recession levels.”
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