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Illinois Home Inventory Shrinking

CHICAGO—According to the state association of realtors, homebuyers will have to work harder with brokers to find the right fit.

By Brian J. Rogal | Updated on November 20, 2013

CHICAGO—Statewide home sales did not increase as much in October as they did in previous months, according to statistics just published by the Illinois Association of REALTORS®. At the same time, median prices increased and available inventory shrunk. In October, a total of 12,349 homes were sold, an increase of 3.7% over last October. In September, the state saw an increase of 19.8% over September 2012. But the median price for homes in October was $153,000, up 13.8% from October 2012.

In addition, the association’s data show that 66,433 units were available in October, down 18.3% compared to last year.

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