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Illinois Housing Stats

By Debra Kukulski, Broker Associate

Real Estate Agent with RE/MAX Suburban 475.135322

March 09, 2007 08:46 AM

February 27, 2007

Per Mary Schaefer
Director of Communications Illinois Association of Realtors:

"Low Mortgage Rates Keep Buyers in Illinois Housing Market;
Statewide Median Price Stable at $200,000

"The Illinois median home price in January remained unchanged from a year earlier, at $200,000. The median is a typical market price where half the homes sold for more, half sold for less. "

The Illinois Association of REALTORS is a voluntary trade association whose over 60,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership.

If you would like to see a copy of the full report, just email me:-)

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Greg Zaccagni

The Federal Savings Bank - Wheaton, IL

Illinois Mortgage Lender

Interest rates are generally not the best barometer for making home purchase decisions for primary residences. In the late 80's when 30yr rates were north of 10% appreciation was slow. In the 90's when 30yr rates were cut n 1/2 appreciation was high. Slower appreciation generally leads to buyers markets which result in better values. Knowing this, when would you rather buy your next home?

Greg Zaccagni @ www.MortgageAdvisor.info

Jun 29, 2007 01:11 AM

Illinois Housing Stats

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Debra Kukulski, Broker Associate

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