Archives

SPRINGFIELD, IL - July 22, 2011 - (RealEstateRama) -- According to the Illinois Association of REALTORS® (IAR) latest report, statewide home sales (including single family and condominiums) in June 2011 totaled 11,003 homes sold, up 12.7 percent from 9,761 sales in May 2011; sales were down 16.3 percent from 13,144 homes sold in June 2010.

SPRINGFIELD, IL - July 12, 2011 - (RealEstateRama) -- SPRINGFIELD, Ill.—The Illinois Association of REALTORS® (IAR) is investigating a technical error related to inconsistent data reporting affecting sales volume and media price reports for the city of Chicago. This error has resulted in inaccurate median price and sales volume reports for single-family homes and condominiums, in the city, possibly dating back to 2008 when IAR first began reporting city data at the request of the Chicago Association of REALTORS®.

SPRINGFIELD, IL - March 15, 2011 - (RealEstateRama) -- The Illinois Association of REALTORS® (IAR) today released new data that shows mortgage loans above the current conforming limit have not led to an increase in foreclosures in the Chicagoland region as some have previously thought. The data provides evidence to support those advocating for an increase in conventional loan limits in select areas of northern Illinois.

SPRINGFIELD, IL - May 11, 2010 - (RealEstateRama) -- Buyers were out in force in the first quarter led by low interest rates and homebuyer tax credits. According to the Illinois Association of REALTORS® (IAR) first quarter 2010 report, Illinois home sales (which include single-family homes and condominiums) totaled 21,242 in the first quarter, up 23.5 percent from 17,194 home sales in the same period a year ago. The first quarter statewide median home sale price was $144,600, off 0.3 percent from $145,000 in the first quarter of 2009. The median is a typical market price where half the homes sold for more, half sold for les

SPRINGFIELD, IL - February 11, 2010 - (RealEstateRama) -- Fueled by the tax credit incentive, home sales rebounded in the latter half of the year with Illinois buyers gaining some long-awaited confidence bolstered by low mortgage interest rates and moderating home prices. According to the Illinois Association of REALTORS® (IAR) fourth quarter 2009 report, Illinois home sales (which include single-family homes and condominiums) totaled 29,822 in the fourth quarter, up 35.6 percent from 21,986 home sales in the same period a year ago. For the year 2009, total sales were down 1.4 percent with 107,613 homes sold compared to 109,195 sales in 2008

More than half of home buyers in the 2009 Profile of Illinois Home Buyers and Sellers were first-time buyers, due in large part to the first-time homebuyer tax credit stimulus and increased affordability in home prices in the last year. The survey results released by the Illinois Association of REALTORS® (IAR) found 51% of buyers were first-time buyers, compared to 47% nationwide (a figure which has averaged closer to 40% nationwide since 2001). When asked about the primary reason for timing of the home purchase, 46% of first-time buyers said it was just the right time.

Springfield, IL - December 15, 2009 - (RealEstateRama) -- More optimism in terms of year-over-year home sales increases is projected in 2010 while the declines in median prices continue but at a lower rate of decline, according to the 2010 Illinois Housing Market Forecast released by the Illinois Association of REALTORS® and prepared by economists from the University of Illinois Regional Economics Applications Laboratory (REAL).

SPRINGFIELD, IL - August 11, 2009 - (RealEstateRama) -- Pent-up demand plus affordable prices, low interest rates and the tax credit incentive provided a substantial boost to the Illinois housing market in the second quarter, according to the Illinois Association of REALTORS® (IAR). Statewide total home sales (which include single-family and condominiums) increased by 61.8 percent in the second quarter of 2009 to 27,531 homes sold compared to 17,017 homes sold in the first quarter of 2009. Sales were down 16.4 percent from second quarter 2008 sales of 32,949.

SPRINGFIELD, IL - May 12, 2009 - (RealEstateRama) — March sales showed sizeable gains over February, yet tighter lending standards had a resounding effect on first quarter home sales, according to the Illinois Association of REALTORS® (IAR). Home sales (which include single-family homes and condominiums) totaled 16,748, down 23.5 percent from 21,902 home sales in the first quarter of 2008. The first quarter median home sale price was $146,000, down 21.1 percent from $185,000 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less.