Illinois Housing Market Statistics

IAR Fast Stats presented by the Illinois Association of REALTORS

Snapshot: Illinois Home Sales

Illinois home sales see slight uptick in June; Prices continue annual upward trend

Infographic: Illinois Housing Market June 2014

 

(July 22, 2014) -- 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 Illinois Association of REALTORS®. Read the news release.

NEW: REAL study on the hidden cost of foreclosures in Chicago neighborhoods

New! Infographic: Home Sales and Prices Up This June
Download PDF | JPG

Infographic: Illinois Housing Market April 2014
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Infographic: Illinois Housing Market Faststats 1Q14
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Infographic: Median Home Prices Continue Gains in February - DOWNLOAD PDF | JPG

Infographic: Median Price Continues to Rise DOWNLOAD PDF | JPG

UPDATED! Infographic: A look at the 30-year fixed-rate mortgage over time DOWNLOAD PDF | JPG

Infographic on the 2013 Illinois Housing Market: A Year of Recovery - DOWNLOAD PDF | JPG

Infographic: The highs and lows of the Illinois housing market - DOWNLOAD PDF | JPG

Infographic: The Cost of Putting Off a Home Purchase - DOWNLOAD PDF | JPG

 

Statewide
Sales +0.1%
Click here for report

 

Housing Price Forecast

“The volume of sales over the next three months (July, August and September) is forecast to match those recorded in 2013. In addition, median prices are continuing to climb while the REAL Housing Price Index suggests a slightly more optimistic growth rate when housing characteristics are taken into account,” noted Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois.  

“Further good news may be found in the Chicago foreclosure inventory; the average inventory change rates were -24.2 percent in the past 6 months, -14.3 percent in the last 12 months and -8.2 percent in the last 24 months.  Given these rates of change, the foreclosure inventory would return to the pre-bubble levels by Oct 2014, Dec 2014 and May 2015 respectively.” 

Chicago PMSA
Sales -1.2%
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City of Chicago
Sales +1.2%
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Contact: Jon Broadbooks, Director of Communications
217-529-2600 phone | jbroadbooks@iar.org


 

Looking for trends and data on Illinois homebuyers?

Find demographic data at www.whyibuy.org

  • 84% utilized the services of a REALTOR® for their most recent purchase.
 
  • 77% were married.
  • 17% were first-time homebuyers.
 
  • 67% stayed within their previous county.

WhyIBuy is a project of the Illinois Association of REALTORS® that aims to better understand the opinions and motivations of homebuyers across the state. Learn more. (Data is updated as of August 2013 and is collected throughs urveys.)