Morning Minute: Upbeat Illinois May housing numbers make the news

The Illinois Association of REALTORS®’ release this week of Illinois homes sales for May brought with it some welcome housing market news: statewide home sales rose 22.1 percent in May while the statewide median price saw a 3.6 percent gain. That along with news that the Chicago-area market broke a 49-month streak of  median price declines garnered media coverage around the state.

Here are a sampling of some of those headlines:

Chicago-area home prices break 49-month losing streak – Chicago Tribune

Chicago-area home prices edge up, first year-over-year bump since ’08 - Chicago Sun-Times

Home sales jump 22.1% in Illinois – HousingWire

Home sales improve statewide in May – WJBC

Local home sales numbers for May show positive trend – State Journal-Register

Chicago-area home sales post best May since 2007 – Crain’s

In other news:

Wanted: More homes for sale to meet the growing demand of buyers. With housing inventory is at its lowest level in years, potential buyers are finding a smaller supply of homes to choose from, the Chicago Tribune reports.

Bank regulators have outlined their plan to compensate homeowners who experienced foreclosure errors and it could mean a payout of as much as $125,000 per customer, the Wall Street Journal reports.

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.