Illinois Bucking Downward Nationwide Trend In Home Sales
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SPRINGFIELD, Ill. (CBS) — Illinois is bucking the trend, posting positive home sale numbers in the face of dismal national numbers.
As WBBM Newsradio’s Alex Degman reports, the median home price statewide was $155,000 last month – up nearly 3.5 percent from this time last year. Home sales were up 18 percent over June 2011.
But is this a recovery? Illinois Association of Realtors President Loretta Alonzo says it’s too soon to tell.
“I think we have to wait through the fall to see if this is really a housing recovery,” Alonzo said. “I’m an optimist; I’d like to think it is. Until we get through the fall, then we’ll be able to, you know, is it going to keep going up or level off a little bit?”
Alonzo says home prices are up, and sales are booming, because short sales and foreclosures are being sold and are no longer on the market.
LISTEN: WBBM Newsradio’s Alex Degman reports