Monthly Home Sales in Illinois Jumps Twenty Percent
Monthly Home Sales in Illinois Jumps Twenty Percent
Monthly Home Sales in Illinois Jumps Twenty Percent
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July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

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July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

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July 9, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums jumped over 20 percent in Illinois during May while the Chicago area saw its first year-over-year increase in home prices in over four years according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 11,984 existing homes and condos were sold in the Land of Lincoln in May, the most sales for a May in five years. Home sales were 20.3 percent higher than the 9,961 homes sold in April and were 22.1 percent higher than the 9,815 homes sold in May 2011.

The median sales price for an existing home in Illinois increased 7.4 percent to $145,000 from $135,000 in April and was up 3.6 percent from May of last year, the first year-over-year price increase in 23 months.

Bob Floss, president of the Illinois Association of REALTORS®, stated, “First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now. With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

Forty-seven of the 100 counties that reported data posted higher home sales than a year ago, twelve more than the previous month, while 51 of the counties posted an increase in their annual median sales price, up from 42 last month.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 8,276 in May, up 21.5 percent from 6,814 homes sold in April and up 25.3 percent from 6,605 homes sold in May of 2011.

The median sales price for a home in the Chicago MSA was $170,000 in May, up 6.3 percent from a median price of $160,000 in April and up 0.1 percent compared to May of last year when the median sales price was $169,900. It was the first time in 49 months that year-over-year home prices in the Chicago MSA have increased.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.