Industry News

Illinois real estate sales cool

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Sales of single-family homes in Illinois held steady in June, posting the second-highest month on record, the Illinois Association of Realtors reported. Total home sales, which include single-family homes and condominiums, were just shy from last year's record with 20,373 sales in June 2005, down 1.1 percent from 20,595 sales in June 2004. Year-to-date, total home sales are up 2.3 percent, from 85,421 homes sold in the first six months of 2004 to 87,371 sales for the same period in 2005. "Although Illinois June home sales eased slightly this year, they are still up on a year-to-date basis and with interest rates still low we anticipate another record year for 2005," said John Veneris, president of the Illinois Association of Realtors. Single-family home sales eased 3.2 percent in June 2005 to 14,253 homes sold from 14,721 in June 2004. The median single-family home price in June was $215,405, up 10.5 percent from $195,000 a year earlier. The median is a typical market price wher...