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Illinois Home Sales Keep Rising

CHICAGO—The increase in mortgage interest rates has not dampened enthusiasm for homeownership.

By Brian J. Rogal | Updated on September 19, 2013

CHICAGO—Illinois home sales in August took a big jump and experts say a healthy summer of selling should continue into the fall. According to statistics just published by the Illinois Association of REALTORS®, a total of 15,814 homes were sold in August, an increase of 17.3 percent over August 2012. Furthermore, the median price for homes was $167,000, up 13.6 percent from the previous August. The trade group says that this marks one year of continuous annual sales and price gains.

In addition, the data show that owners were able to sell their homes in an average of only 59 days, down 28.9 percent from the 83 days it took last August.

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