CHICAGO—After experiencing a slowdown in 2014, home sales have proceeded quite robustly this summer. The RE/MAX Northern Illinois real estate network, for example, reports that sales made by its more than 2,250 brokers exceeded $1 billion in July, the second consecutive month they hit that milestone and the first time that has happened since 2007.
The RE/MAX network saw its closed sales volume for July rise 18% from the same month last year. And transactions closed by RE/MAX brokers in the region are up 24% through the first seven months of this year, giving the network a faster rate of sales growth than the regional housing market as a whole. In the seven-county Chicago metro area, for example, the number of homes sold rose 9% for the January-July period.
“This year the housing recovery is making itself felt strongly across the state,” says Jim Merrion, regional director of the Elgin, IL-based RE/MAX Northern Illinois network. He also attributes the network's faster growth to its use of an array of digital tools, including mobile applications.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
