Illinois Housing Market Continues to Slump
By: WMBD/WYZZ-TV
Updated: February 25, 2009
The housing slump continues statewide, with new numbers out today from the Illinois Association of Realtors that shows home sales were down 24-percent this January compared to January of 2008.
The Peoria Area Association of Realtors reports declines year-to-year, but not at the statewide levels.
Realtors hope stimulus incentives for "first time" home buyers will stabilize the slumping housing market.
Here are the numbers:
January Home Sales - Illinois (Source: Illinois Association of Realtors)
2007 - 8,618
2008 - 6,045
2009 - 4,599
January Median Sales Price - Illinois
2007 - $199,897
2008 - $186,500
2009 - $149,900
January Home Sales - Peoria Area (Source: Peoria Area Association of Realtors)
2007 - 318
2008 - 253
2009 - 212
January Median Sales Price - Peoria
2007 - NA
2008 - $117,500
2008 - $100,500
January Home Sales - Bloomington Area
2007 - NA
2008 - 122
2008 - 89
