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IL Home Sales Finally Post Gains

CHICAGO—There are also signs that the foreclosure inventory will soon return to the pre-bubble levels.

By Brian J. Rogal | Updated on July 22, 2014

CHICAGO—For the last several months, home sales in the state have declined, at least on a year-over year basis. However, data just produced by the Illinois Association of REALTORS® show that statewide home sales reversed course in June, experiencing a slight year-over-year gain. And home prices continued to climb. In fact, the association just recorded the 22nd consecutive month of annual increases.

“It’s great to see home sales come roaring back,” says Phil Chiles, president of the association and broker-associate with the Real Estate Group in Springfield. “Increasing prices and sales point to an improving economic situation and a strengthening real estate market.”

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