Home sales, median prices increase in January; housing gains extend into new year – IAR releases January 2013 home sales data.

January 2013 Illinois Home Sales snapshot

Illinois home sales increased 31.1 percent over previous-year levels in January and median prices increased 1.2 percent, according to the Illinois Association of REALTORS®. Statewide home sales (including single-family homes and condominiums) in January 2013 totaled 8,502 homes sold, up from 6,484 in January 2012.

“Foreclosures continue to dampen price gains and reduce inventory levels as prospective sellers are wary of the effect these properties have on their own prospects,” said Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory at the University of Illinois. “However, the sales volumes are impressive and with foreclosure sales continue to outpace new additions, there is some expectation that over the next year, prices might start to move upward in some sustained fashion.”

Link here to the news release.

This entry was posted in Housing Market by Kara Kienzler. Bookmark the permalink.

About Kara Kienzler

Kara Kienzler is Webmaster/Communications Coordinator for the Illinois Association of REALTORS® (IAR). She serves as Webmaster for the IAR websites including www.illinoisrealtor.org and www.yourillinoishome.com. She is responsible for the design, layout, printing and online strategy of IAR publications including the Illinois REALTOR® magazine, e-newsletters and other publications, and assists with new releases, issues research, surveys and speechwriting. She also plans and develops content for the IAR blog at www.iarbuzz.com and coordinates the Illinois REALTOR® magazine Twitter account content at ILREALTORmag. She coordinates the Leadership Directory and serves as co-liaison to the Illinois Young Professionals Network.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>