Gurnee, IL Home Sales! How the Federal Housing Tax Credit Changed the Market

Due to the first time home-buyers and the move-up buyers tax credit the past six months have been booming with sales. 108 single family homes sold in Gurnee in the past 6 months.The buyers, as you can see in the chart below were much more aggressive in the second 3 months. Reason being, the government did not extend the tax credit this time around. Sales have increased somewhat, but prices have not. The good news is prices seem to have stabilized. With inventory at an all time high, interest rates at an all time low, and jobs starting to increase instead of decrease it seems like we are on our way to a slow recovery. This is the best time in history to buy a home to live in or to buy an investment property. Even without the tax credit homeowners are still offering things like closing cost credits and free home warranties.