BY THE NUMBERS
SPRINGFIELD, IL—IL home sales largely held steady and the statewide median price increased in June as buyers moved quickly to snap up homes amid tighter seasonal inventory, according to Illinois REALTORS®. Statewide home sales totaled 19,066 homes sold, up 0.3% from 19,001 in June 2016. The median price in June was $216,000, up 5.9% from June 2016, when the median price was $204,000. The time it took to sell a home in June averaged just 49 days, down from 55 days a year ago. Available housing inventory totaled 59,088 homes for sale, a 14% decline from June 2016 when there were 68,720 homes on the market. “Hopefully, now that the state has a budget, a recovering state economy will encourage more investment in housing – both new construction and investment by first-time buyers,” says Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois.
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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.
