March Illinois home sales rose 1.9 percent annually and existing-home sales rose nationally for the month as well. Strong gains in the Midwest and Northeast regions of the country helped drive overall home sales up 5.1 percent compared to February and were up 1.5 percent compared to March 2015, according to the National Association of REALTORS® (NAR).
In the blog post, “Inside the Release: Dissecting Where Sales Were the Strongest in March,” NAR researchers take a closer look at the March housing data released Wednesday. A few takeaways: sales activity was strongest in the mid-priced property range and affordability and the low availability of starter homes may be hindering first-time buyers from getting in the market.
In other headlines:
Chicago-area home prices continue to rise – Chicago Tribune
Existing-Home Sales Kick Off Strong Spring – NAR Daily Real Estate News