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ILLINOIS HOUSING STATISTICS
November 12, 2007
RE/MAX Elite
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Hinsdale, IL 60521
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ILLINOIS HOUSING STATISTICS

"Consumer sentiment and the degree of optimism they express in terms of their behavior in the market over the next few months will determine the length of the housing market slump,” says Dr. Geoffrey Hewings, as a forecast prepared for the Illinois Association of REALTORS (IAR).

 

Year-to-date, sales were down 15.4 percent to 112,278 homes sold January through September 2007 compared to 132,784 homes sold during the same period last year for Illinois.

 

For DuPage County, home sales were down 19.5% from 2006 to 2007 and condo sales were down 18%.

 

For Cook County, homes sales were down 25% from 2006 to 2007 and condo sales were down 12%.

 

Much of the decline in sales can be attributed to the market’s transition back to a more normal pace as well as some uncertainty from potential buyers and sellers about the best time to enter the market,” said Robert Zoretich, president of the Illinois Association of REALTORS.  “Home sales should improve later this year from pent-up demand, steady job growth, and improved consumer confidence in the housing market.”

 

 

 

 
 

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