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 June home sales report released today by the Illinois Association of REALTORS®.
Among the highlights:
- Statewide home sales were up 0.1 percent with 15,661 home sold.
- Median prices continued to climb with the statewide median totaling $179,900 in June, a 5.8 percent gain over last year.
- Homes are selling faster, averaging 68 days before selling statewide.
- Available inventory is nudging higher, which will give buyers more properties to consider.
A representative of the the Illinois Association of REALTORS® has been named to a task force which aims to increase affordable housing opportunity.
Brian Bernardoni, an IAR government affairs director working with the Chicago Association of REALTORS®, was appointed to the Affordable Housing Task Force set up by Chicago Mayor Rahm Emanuel and Chicago Alderman Ray Suarez.
“I am committed to ensuring that growth in the City’s residential housing stock leaves no one behind,” Emanuel said in a release. “By reforming our housing laws and programs we can leverage our growing residential housing sector to create more affordable housing options across the City, especially in high-growth neighborhoods with access to jobs and transit.”
Bernardoni joins 22 others on the task force, which will recommend reforms for the city’s Affordable Requirements Ordinance. The ordinance was created 11 years ago and updated in 2010. It provides guidelines for providing affordable housing in the city.
The task force will take public comments through Aug. 11 at ARO@cityofchicago.org or via mail to ARO Advisory Panel; 121 N. LaSalle, 10th floor; Chicago, IL 60602.
A final report from the group would come in advance of a planned fall rollout of an updated ordinance for City Council consideration this fall.
In case you missed it, here are three of the top IARbuzz blog posts from last week.
Illinois REALTORS® pitch in to build Habitat for Humanity home in Aurora #PowerofR - One week in and the third Illinois Association of REALTORS® (IAR) Habitat for Humanity project is taking shape in Aurora. On Thursday, officials held a ribbon cutting ceremony at the home, at the corner of Solifsburg Avenue and Beckwith Street, with REALTOR® volunteers, IAR President Phil Chiles, IAR Treasurer Mike Drews, State Rep. Stephanie Kifowit and members of the Aurora Police Department in attendance.
Leasing Agents: Still need more CE hours to renew your license? - Leasing Agents who need more CE hours can take advantage of a three-hour online program, COR 1610 Property Management, featuring IAR’s Legal Hotline Attorney Betsy Urbance and Steve Bochenek, a partner with Sorling Northrup Attorneys.
Commercial real estate rock star panel at IAR Fall Conference on Sept. 5 - Increase your understanding, improve your comfort level and give yourself a better chance to succeed with future commercial real estate transactions. Plan to attend the “Retail World from the Perspective of the Landlord” session, Sept. 5 at the IAR Fall Conference & Expo in Chicago.
Reserve one of the hottest FREE tickets in the real estate education world today! Attend REbarcamp Illinois 2014 on Aug. 4 in Itasca.
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Now for the details: REbarcamp Illinois is 1- 4 p.m., Aug. 4 at the Westin Chicago Northwest, 400 Park Boulevard in Itasca. Click here to reserve your FREE ticket and connect with us on Facebook for updates and to see which of your Facebook friends is going to REbarcamp Illinois 2014!