(April 20, 2016) - The spring market is in swing with steady gains in March median prices and modest growth in statewide home sales even as the housing supply is low for the season, according to the Illinois REALTORS®. Read the news release.
Infographic: March Housing Market Snapshot
Housing Price Forecast
“March recorded the usual monthly surge in sales in both Chicago and Illinois,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “However, median prices did not change very much with the major source of growth in prices coming from increases in the prices of foreclosed properties. Consumer sentiment nationally seems to reflect some uncertainties about the direction of the economy, no doubt exacerbated by vagaries of the election cycle.”
Contact: Jon Broadbooks, Director of Communications
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