(July 22, 2014) -- Illinois home sales reversed course in June with statewide home sales experiencing a slight year-over-year gain for the first time this year. Home prices continued to climb and marked the 22nd consecutive month of annual increases, according to the Illinois Association of REALTORS®. Read the news release. 
New! Infographic: Home Sales and Prices Up This June
Infographic: Illinois Housing Market Faststats 1Q14
Housing Price Forecast
“The volume of sales over the next three months (July, August and September) is forecast to match those recorded in 2013. In addition, median prices are continuing to climb while the REAL Housing Price Index suggests a slightly more optimistic growth rate when housing characteristics are taken into account,” noted Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois.
“Further good news may be found in the Chicago foreclosure inventory; the average inventory change rates were -24.2 percent in the past 6 months, -14.3 percent in the last 12 months and -8.2 percent in the last 24 months. Given these rates of change, the foreclosure inventory would return to the pre-bubble levels by Oct 2014, Dec 2014 and May 2015 respectively.”
City of Chicago
Contact: Jon Broadbooks, Director of Communications
217-529-2600 phone | firstname.lastname@example.org 
Looking for trends and data on Illinois homebuyers?
Find demographic data at www.whyibuy.org 
WhyIBuy is a project of the Illinois Association of REALTORS® that aims to better understand the opinions and motivations of homebuyers across the state. Learn more.  (Data is updated as of August 2013 and is collected throughs urveys.)
Follow IAR for housing updates
About the reports
Release Schedule