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Article: August Illinois Home Sales Strong at the Entry Level.
- Article from:
- Real Estate Weekly News
- Article date:
- October 9, 2009
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Record low mortgage interest rates, favorable prices at the entry-level, and the first-time homebuyer tax credit propel home sales in August. According to the Illinois Association of REALTORS latest report, statewide total home sales (which include single-family and condominiums) in August 2009 reached 10,595 homes sold, down 3.0 percent from August 2008 sales of 10,923. The Illinois median price in August 2009 was $165,000 down 14.8 percent from $193,750 in August 2008. The median is a typical market price where half the homes sold for more, half sold for less.
"August proved a strong month for sales, particularly in the single-family market, as we move through ...