(March 23, 2015) - Illinois home prices continued to strengthen as the statewide median price experienced a double-digit annual gain in February, marking 30 consecutive months of year-over-year price increases, according to the Illinois Association of REALTORS®. Read the news release.
Infographic: February Housing Market Snapshot
Housing Price Forecast
“Spring has come earlier than the weather to the housing market with solid gains in prices even with slight declines in monthly and year-over-year sales,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “Home buyers seem to be differentiating between regular and foreclosed homes for sale with the former gaining increasing shares of sales over the last year and thus propelling the increase in median prices in both Illinois and Chicago.”
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