(November 20, 2013) --The Illinois housing market saw October home sales increase 3.7 percent over previous-year levels and median prices rise 13.8 percent. Read the news release.
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Housing Price Forecast
“While the partial government shutdown has certainly had a profound negative effect on the housing market’s continuing recovery, sales and prices are forecast to return to more robust growth rates over the next three months,” noted Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “The declines in consumer sentiment suggest that a longer-term resolution to the government fiscal tensions would provide conditions that would significantly help the housing market.”
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