CHICAGO— Illinois home prices have now marked 21 consecutive months of year-over-year gains, and the depressed inventory that has plagued the market for months shows some sign of improving, according to data just published by the Illinois Association of REALTORS®. The data also show a decline in May home sales, at least compared to May 2013.

That decline in the number of home sales does not worry Phil Chiles, president of the state association and broker-associate with the Real Estate Group in downstate Springfield. “Last year we were playing catch–up from a down market,” he tells GlobeSt.com, and all that pent-up demand was driving the fast pace of selling. “And now, it’s pretty much getting back to normal.”

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